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The relationship between the perceived risk and attractiveness of gambles: A multidimensional analysis
Nygren, Thomas E. (1977)
 

Title 
The relationship between the perceived risk and attractiveness of gambles: A multidimensional analysis

Author(s)

Issue Date
1977

Type
Article

Abstract
Judgments of perceived risk and attractiveness for a set of 50 two-outcome gambles were obtained from 39 college students. The data were used to test various ordinal properties of the gambles implied by Pollatsek and Tversky’s theory of risk and Coombs’ Portfolio theory. In addition, the MDPREF multidimensional scaling procedure was used (1) to test the assumption that gambles are perceived and evaluated as multidimensional stimuli; (2) to determine the characteristics of gambles affecting perceived risk and attractiveness; (3) to assess the extent of individual differences in perception of gambles; and (4) to test the implication of Portfolio theory that attractiveness is a function of perceived risk and expected value. The results supported the multidimensional nature of gambles and the implications of Portfolio theory. In the MDPREF analyses large individual differences were found in perceived risk and attractiveness of gambles. Potential uses of multidimensional scaling techniques in further research on individual differences in gambling behavior are proposed and discussed.

Appears in Collection(s)

Other Identifier(s)
other: doi:10.1177/014662167700100412

Suggested Citation
Nygren, Thomas E.. (1977). The relationship between the perceived risk and attractiveness of gambles: A multidimensional analysis. Retrieved from the University of Minnesota Digital Conservancy, http://purl.umn.edu/98620.


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