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What is the Reason Behind Gamblers' Beliefs and Superstitions ?

by Savitha.C.Muppala on September 02, 2010 at 12:13 PM General Health News

Scientists have tried to understand the link between beliefs and superstitions and how they affect ratinal decision making.

What is the Reason Behind Gamblers' Beliefs and Superstitions ?

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In a new study, the researchers found that because humans are making decisions based on how we think the world works, if erroneous beliefs are held, it can result in behaviour that looks distinctly irrational.

The study examines the roots of a seemingly irrational human decision strategy that occurs in so-called binary choice tasks, which has perplexed researchers in economics, psychology and neuroscience for decades.

In these tasks, subjects are repeatedly asked to choose between two options, with one option having a higher probability of being correct than the other (imagine a biased coin that will land on heads 70 percent of trials, and tails on 30 percent of trials).

While the right strategy is to always pick the higher probability option, subjects instead choose the options in proportion to the probability of it being correct.

"The overarching idea is that there is typically structure in the world, and it makes sense that when we make decisions, we try to understand the structure in order to exploit it," said Shawn Green, a post-doctoral fellow in the College of Liberal Arts' Department of Psychology and Center for Cognitive Sciences.

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What is the Reason Behind Gamblers' Beliefs and Superstitions ?

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