 How do gamblers maintain an illusion of control?Elizabeth Cowley, Donnel A. Briley and Colin Farrell Journal of Business Research, 2015, vol. 68, issue 10, 2181-2188 Abstract: Introduction: Gamblers' enduring illusions of control (IOC) may be one reason why they continue to gamble in the face of sustained losses. If gamblers persist in the belief that they have special skills, knowledge and other advantages when gambling, they may be able to convince themselves it is worth doing again. Maintaining an IOC requires selective attention of the illusion supporting moments during the construction of an evaluation of a gambling session.Objective: Test the hypothesis that selected moments, specifically the moment of the highest win and the last moment of the gaming session, explain the retrospective evaluation of the session for gamblers high in the illusion of control.Method: A total of 102 and 35 experienced gamblers were recruited from gambling venues and participated in two studies by gambling on 20 occasions on coin toss outcomes. Participants were asked to evaluate their enjoyment of the gambling experience they had just completed, and completed an IOC Beliefs Questionnaire designed to measure the extent to which they believe they are good at influencing gambling outcomes.Results: Gamblers with a high IOC use the largest win in their evaluation when they lose. This is consistent with the motivated selective attention hypothesis. Non-threatened gamblers, those with a low IOC or winners, use the final outcome as the determinant of their evaluation of the gaming session.Conclusion: The results suggest that instead of altering an important characteristic of self, gamblers instead reflect on the moment of a gambling episode that does not threaten, and in fact supports, their ability to find patterns in random events. Indicators of the illusion could be used to assist gamblers in controlling their own behavior. Keywords: Gambling; Illusion of control; Retrospective evaluation; Peak–end rule; Policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:68:y:2015:i:10:p:2181-2188 DOI: 10.1016/j.jbusres.2015.03.018 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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