EFFECTS OF PERCEIVED CONTROL UPON WAGERING AND ATTRIBUTIONS IN COMPUTER BLACKJACK

Abstract The effects of short-term fluctuations of odds and personal control upon risk-taking behavior in computer blackjack were examined. Although probabilistic models make clear recommendations about optimal play in blackjack (e.g., the basic strategy and card counting), players deviate from optimal play. Those deviations might be explainable by cognitive theories. Risk taking can be explained in terms of irrational cognitions and self-serving evaluations of outcomes; it can also be explained in terms of the available evidence used when people make their decisions. Twelve undergraduate students of the University of Hong Kong played computer blackjack for money. Fluctuations of short-term odds were manipulated as winning or losing streaks, the ability to request extra cards during play was considered to be control of a skill-relevant dimension, and the ability to choose “dealers” was considered to be control of a skill-irrelevant dimension. Recent successful outcomes and the ability to control the skill...

[1]  L. Cohen,et al.  On the psychology of prediction: Whose is the fallacy? , 1979, Cognition.

[2]  E. Langer.  The illusion of control. , 1975 .

[3]  J. Frank Yates,et al.  The risk construct. , 1992 .

[4]  M. Mayrand,et al.  Primary and Secondary Illusory Control and Risk-Taking in Gambling (Roulette) , 1986, Psychological reports.

[5]  M. L. Snyder,et al.  Egotism and attribution. , 1976, Journal of personality and social psychology.

[6]  N. Bond.  Basic strategy and expectation in casino Blackjack , 1974 .

[7]  A. Tversky,et al.  Prospect Theory : An Analysis of Decision under Risk Author ( s ) : , 2007 .

[8]  Willem A. Wagenaar,et al.  Violation of utility theory in unique and repeated gambles , 1987 .

[9]  W. Wagenaar,et al.  The multiple objectives of gamblers , 1984 .

[10]  Gordon F. Pitz,et al.  On the processing of information: Probabilistic and otherwise , 1970 .

[11]  J. Rosecrance.  Professional Horse Race Gambling , 1988 .

[12]  Dane K. Peterson,et al.  Confidence, uncertainty, and the use of information , 1988 .

[13]  R. Ladoucer,et al.  Familiarity, group exposure, and risk-taking behavior in gambling. , 1986, The Journal of psychology.

[14]  Edward O. Thorp,et al.  The Theory of Blackjack. , 1983 .

[15]  Jeffrey K. Liker,et al.  A day at the races: A study of IQ, expertise, and cognitive complexity. , 1986 .

[16]  Willem A. Wagenaar,et al.  On the psychology of playing blackjack: Normative and descriptive considerations with implications for decision theory. , 1985 .

[17]  Rüdiger Trimpop,et al.  The psychology of risk taking behavior , 1994 .

[18]  E. Langer,et al.  Heads I win, tails it's chance: The illusion of control as a function of the sequence of outcomes in a purely chance task. , 1975 .

[19]  M. Mayrand,et al.  Illusion of Control: Effects of Participation and Involvement , 1984 .

[20]  W. Wagenaar.  Paradoxes of gambling behaviour , 1989 .

[21]  A. K. Wolfgang,et al.  Control Motivation and the Illusion of Control in Betting on Dice , 1984 .