An exploratory study of risk-taking with prisoners

Abstract

One technique, which has recently emerged from the study of how probabilities and payoffs determine the attractiveness of a gamble, is the use of duplex bets. Systematic and independent manipulation of the gambles' components is possible, within the context of risky decision making, permitting assessment of the contribution that each component makes in the gambles' evaluation. The influence of each risk dimension was inferred from the attractiveness ratings that a sample of 20 recidivists, from a London prison, made for a series of duplex bets.