No-loss gambling and gains-only designs avoid loss-aversion complications in PDW¶
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Evidence · 1 study · quant-synthesisr2·q1
Currency · newest study 2024 · not yet checked against its sources · not reviewed by a person
Subclaims¶
Reading the evidence codes
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q1 i? Payoff designs containing no losses, such as no-loss gambling (6% of four-cell matrices) and gains-only designs (21%), circumvent the problem that loss aversion makes real payoff values unknown. → Lorenz Weise 2024
Evidence¶
Lorenz Weise 2024¶
Lorenz Weise. (2024). Payoff designs in post-decision wagering: a systematic review. Metacognition and Learning. https://doi.org/10.1007/s11409-024-09411-z
q1 · i? · quant-synthesis · r2
The review describes the no-loss gambling design proposed by Schurger & Sher (2008) and used by Dienes and Seth (2010) and Mealor and Dienes (2012), in which "The no-loss gambling design solves this problem by simply not including losses". It separately reports 16 of 78 matrices (21%) implement gains-only designs per Goodie and Young (2007).
"The no-loss gambling design solves this problem by simply not including losses. This design, with the low wager's payout determined by a random event, constitutes 5 out of 78 reviewed matrices (6%)."
Discussion¶
Related Claims¶
- Many four-cell PDW payoff matrices imply an optimal strategy of always wagering high — related
- Most four-cell PDW payoff matrices fulfill the intuitive wagering-on-correctness properties — related
- Participants frequently deviate from optimal wagering strategies implied by payoff matrices — related
- Free-choice wager designs vary widely in wager categories and often match other instruments
- In standard free-choice wagering schemes only the lowest and highest wagers are ever optimal
Page metadata
| Field | Value |
|---|---|
type |
claim |
id |
no-loss-gambling-and-gains-only-designs-avoid-loss-aversion |
title |
No-loss gambling and gains-only designs avoid loss-aversion complications in PDW |
description |
No-loss gambling and gains-only designs avoid loss-aversion complications in PDW |
status |
review |
evidence_strength |
weak |
newest_evidence |
2024 |
generated |
by process:wiki-ingest on 2026-10-19 |
trust |
unverified — no one has confirmed this page's content |
sources |
1 — lorenz-weise-2024 |
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