scholarly journals Is Self-Reported Propensity for Everyday Illusions of Control Higher in Gamblers and Is It Associated With Gambling-Specific Erroneous Beliefs?

SAGE Open ◽  
2020 ◽  
Vol 10 (1) ◽  
pp. 215824401989943 ◽  
Author(s):  
Paul Delfabbro ◽  
Neophytos Georgiou ◽  
Catia Malvaso ◽  
Daniel King
Keyword(s):  
Everyday Life ◽  
Cognitive Biases ◽  
Control Beliefs ◽  
Illusion Of Control ◽  
Standardized Measures ◽  
Problem Gamblers ◽  
Illusory Control ◽  
Erroneous Beliefs ◽  
Objective Contingency

People who engage in gambling are known to hold erroneous views about the nature of gambling. One of the most commonly observed cognitive biases is the illusion of control, where people’s subjective appraisal of contingency between behavior and events is greater than the objective contingency. Such beliefs have been found to be strongest in problem gamblers and can lead to over-confidence in the ability to win money from gambling. A question, however, is whether such perceptions are (a) specific to gambling and whether gamblers display a tendency to over-estimate contingencies in everyday life and (b) if a tendency to endorse everyday illusion of control beliefs is related to specific gambling-related beliefs among those who gamble. Answers to these questions might provide insights into whether some people are potentially more vulnerable to beliefs that might have implications for gambling. An online sample of 788 adults completed a survey about simple everyday situations where people might attempt to exert control (e.g., pressing elevator buttons more often, throwing dice in games). The survey included a scale that captured everyday situations as well as established measures of illusion of control and superstition in gambling. The results showed that those who report greater control in everyday tasks scored higher on standardized measures of beliefs about chance and gambling-related cognitions relating to illusory control. Scores on both types of measures were higher in gamblers than non-gamblers. The findings suggest that gamblers may differ in how they generally perceive and respond to situations involving tasks largely dominated by chance or limited opportunities for genuine control.

Cognitive Biases, Risk Perception, and Individual's Decision to Start a New Venture

2018 ◽  
Vol 9 (3) ◽  
pp. 14-29 ◽  
Author(s):  
Salma Zaiane ◽  
Fatma Ben Moussa
Keyword(s):  
Risk Perception ◽  
Cognitive Biases ◽  
New Venture ◽  
Illusion Of Control ◽  
Mediating Role ◽  
Correlation And Regression Analysis ◽  
Reduce Risk ◽  
Relationship Of ◽  
The Relationship

The purpose of this article is to investigate the relationship of overconfidence and illusion of control towards the start of new venture, taking in consideration the mediating role of risk perception in the context of Tunisia. This article examines students' responses to surveys based on a teaching case titled “Optical Distortion, Inc.” The authors tested hypotheses by correlation and regression analysis. The results show that the perception towards risk associated with new venture plays an important role in decision-making. Moreover, they find that overconfidence and illusion of control reduce risk perception associated to the decision to start a venture. While overconfidence directly affects the decision to start a venture and indirectly through its effect on reducing the risk perception, illusion of control has neither a direct nor an indirect impact on that. These results partially confirm those of Simon show that the mediation exists but partially.

The Effect of Risk Perception and Cognitive Biases on the Evaluation of Opportunity in Family and Non-Family Entrepreneurs: The Case of Tunisian Entrepreneurs

2016 ◽  
Vol 24 (03) ◽  
pp. 281-312 ◽  
Author(s):  
Najoua Dali ◽  
Sana Harbi
Keyword(s):  
Regression Analysis ◽  
Risk Perception ◽  
Cognitive Biases ◽  
Illusion Of Control ◽  
Test Hypothesis ◽  
Significant Difference ◽  
Structural Regression ◽  
Opportunity Evaluation ◽  
The Law

This study uses cognitive biases to examine opportunity evaluation among family and non-family entrepreneurs, and investigated the effect of risk perception in this type of entrepreneurs. The aim of this paper is to examine empirically if family entrepreneurs differ in terms of risk perception and opportunity evaluation from non-family entrepreneurs. We use a sample of 144 established businesses to run both test hypothesis and regression analysis. Our results indicate that there is no significant difference between the two categories of entrepreneurs. The structural regression analysis suggests that risk perception mediates opportunity evaluation and that (i) the belief in the law of small numbers and (ii) the illusion of control decreases risk perception among entrepreneurs when evaluating an opportunity.

Cognitive Biases and Decision Making in Gambling

2010 ◽  
Vol 107 (1) ◽  
pp. 15-24 ◽  
Author(s):  
Mariano Chóliz
Keyword(s):  
Decision Making ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Structural Characteristics ◽  
Illusion Of Control ◽  
Games Of Chance

Heuristics and cognitive biases can occur in reasoning and decision making. Some of them are very common in gamblers (illusion of control, representativeness, availability, etc.). Structural characteristics and functioning of games of chance favor the appearance of these biases. Two experiments were conducted with nonpathological gamblers. The first experiment was a game of dice with wagers. In the second experiment, the participants played two bingo games. Specific rules of the games favored the appearance of cognitive bias (illusion of control) and heuristics (representativeness and availability) and influence on the bets. Results and implications for gambling are discussed.

Afterthoughts on biases in history perception

2010 ◽  
Vol 41 (2) ◽  
pp. 84-90
Author(s):  
Maciej Dymkowski
Keyword(s):  
Social Psychology ◽  
Everyday Life ◽  
Common Sense ◽  
Cognitive Biases ◽  
Social Information ◽  
Cultural Environment ◽  
The West ◽  
Sequence Of Events ◽  
Cultural Sphere ◽  
Common Sense Psychology

Afterthoughts on biases in history perception Contemporary social psychology describes various deformations of processing social information leading to distortions of knowledge about other people. What is more, a person in everyday life refers to lay convictions and ideas common in his/her cultural environment that distort his/her perceptions. Therefore it is difficult to be surprised that authors of narrations in which participants of history are presented use easily available common-sense psychology, deforming images of both the participants of history and their activities, as well as the sequence of events determined by these activities. Which cognitive biases, how often, and in what intensity they will be presented in historical narrations depend on statements of dominating common-sense psychology. The article outlines some biases made by historian-lay psychologists, such as attributional asymmetry or hindsight effects, whose occurrence in their thinking, as formed in the cultural sphere of the West, influences history perception and conducted historical interpretations.

scholarly journals The Mediating Role of Risk Perception among Cognitive Biases towards Decision to Start a New Venture

2015 ◽  
Vol 54 ◽  
pp. 88-95
Author(s):  
Maheen Butt ◽  
Nadia Jamil ◽  
Rabia Nawaz
Keyword(s):  
Risk Perception ◽  
Risk Perceptions ◽  
Cognitive Biases ◽  
Negative Impact ◽  
New Venture ◽  
Illusion Of Control ◽  
Mediating Role ◽  
Overconfidence Bias ◽  
The Relationship

The Objective of the study is to investigate the relationship of overconfidence bias and illusion of control bias towards the start of new venture, with the mediating role of risk perception in context of Pakistan. To understand the relationship, this study developed and tested hypothesis by correlation and regression analysis. This study’s sample consisted of 170 students pursuing a Masters of Business Administration. The students’ responses to a survey based on a case study regarding a decision to start a venture were examined. This study found illusion of control and risk perceptions have significant effect on decision to start new venture. Conversely, overconfidence bias has insignificant relationship with decision to start new venture. The positive and negative impact of biases and perceiving low levels of risk suggest the importance of exploring the area of venture formation. As this study has incorporated two biases but many other biases should also be considered that effect human decision making process like self-efficacy, availability heuristics, law of small numbers and escalation of commitment.

scholarly journals Who uses custom sports betting products?

2019 ◽  
Author(s):  
Philip Warren Stirling Newall ◽  
Rebecca Cassidy ◽  
Lukasz Walasek ◽  
Elliot Andrew Ludvig ◽  
Caroline Meyer
Keyword(s):  
Large Scale ◽  
Severity Index ◽  
Sports Betting ◽  
Online Gambling ◽  
Illusion Of Control ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Control Scale ◽  
Problem Gamblers ◽  
The Uk

Background: The expansion of online gambling in the UK has been accompanied by an increase in the number of novel betting products, particularly for soccer. The present research investigates which types of sports bettors are the most likely to use novel gambling products called ‘custom sports bets’ (CSBs), which allow gamblers to create their own unique bets.Method: A large-scale, cross-sectional survey of online sports/horse racing bettors (N = 789, 32.7% female). The survey collected two measures of CSB usage and four validated gambling measures: the Problem Gambling Severity Index, the Gambling Related Cognition Illusion of Control Scale, the Short Gambling Harm Screen, and the Consumption Screen for Problem Gambling.Results: Overall, 62.0% of participants reported having used a CSB, and those who had used a CSB did so on an average of 29.4 days over the last year. Overall, 16.0% of participants who had used a CSB were current problem gamblers, compared to 6.7% among those who had not. CSB users reported an average of 2.3 out of 10 possible gambling harms, compared to 1.5 harms for those who had not used a CSB. The illusion of control scale was significantly positively correlated with whether participants had ever used a CSB before, but not with past year frequency of CSB usage. The usage of CSB products was most strongly associated with the frequency of gambling consumption.Conclusions: Overall, these findings suggest that CSB products raise distinctive concerns around consumer protection for frequent sports bettors which deserve further investigation.

The Perception of Control in Loud Noise

Perception ◽  
1984 ◽  
Vol 13 (6) ◽  
pp. 709-718
Author(s):  
Shirley Fisher ◽  
Margaret Ledwith
Keyword(s):  
Perceived Control ◽  
Illusion Of Control ◽  
Loud Noise ◽  
Random Generation ◽  
Assessment Task ◽  
Unexpected Effect ◽  
Control Subjects ◽  
Sequential Structure ◽  
Perception Of Control ◽  
Objective Contingency

Perception of control is known to affect performance under stress. Two experiments are reported the object of which was to find out how loud noise during a contingency assessment task influences perceived control. Subjects were required to choose one of two responses, note one of two results, and then provide an overall percentage estimation of the degree of contingency present after 40 trials. Subjects made these judgements for one of three levels of objective contingency (25%, 50%, 75%), either in quiet (55 dBA) or in loud noise (95 dBA) conditions. The first experiment involved a series of randomly chosen, preprogrammed outcomes for noncontingent trials. An unexpected effect of noise was that subjects improved their successes in predicting events, and could only have done so by finding sequential structure in the preprogrammed alternations. They also overestimated control relative to contingency data actually received, at the 25% objective contingency level, but the result could have been dependent on different base levels of data actually received. A second experiment, with a random generation of outcomes for noncontingent trials, resulted in no differences in success levels, but confirmed that noise is associated with the overestimation of contingency at the 25% objective contingency level and demonstrated the same effect for the 50% level. The results are discussed in the context of the ‘illusion of control’.

scholarly journals Cognitive Biases, Risk Perception, and Risky Driving Behaviour

2021 ◽  
Vol 14 (1) ◽  
pp. 77
Author(s):  
Cornelia Măirean ◽  
Grigore M. Havârneanu ◽  
Danijela Barić ◽  
Corneliu Havârneanu
Keyword(s):  
Risk Perception ◽  
Traffic Safety ◽  
Cognitive Biases ◽  
Illusion Of Control ◽  
Future Research ◽  
Risky Behaviour ◽  
Risky Driving ◽  
Optimism Bias ◽  
Driving Behaviour ◽  
The Relationship

This study evaluated the relationship between drivers’ cognitive biases (i.e., optimism bias, illusion of control) and risky driving behaviour. It also investigated the mediational role of risk perception in the relationship between cognitive biases and self-reported risky driving. The sample included 366 drivers (Mage = 39.13, SD = 13.63 years) who completed scales measuring optimism bias, illusion of control, risk perception, and risky driving behaviour, as well as demographic information. The results showed that risky driving behaviour was negatively predicted by optimism bias and positively predicted by the illusion of control. Further, risk perception negatively correlated with risky behaviour and also mediated the relation between both optimism bias and illusion of control with risky driving. The practical implications of these results for traffic safety and future research are discussed.

scholarly journals Who uses custom sports betting products?

2020 ◽  
Author(s):  
Philip Warren Stirling Newall ◽  
Rebecca Cassidy ◽  
Lukasz Walasek ◽  
Elliot Andrew Ludvig ◽  
Caroline Meyer
Keyword(s):  
Large Scale ◽  
Severity Index ◽  
Sports Betting ◽  
Online Gambling ◽  
Illusion Of Control ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Control Scale ◽  
Problem Gamblers ◽  
The Uk

Background: The expansion of online gambling in the UK has been accompanied by an increase in the number of novel betting products, particularly for soccer. The present research investigates which types of sports bettors are the most likely to use novel gambling products called ‘custom sports bets’ (CSBs), which allow gamblers to create their own unique bets.Method: A large-scale, cross-sectional survey of online sports/horse racing bettors (N = 789, 32.7% female). The survey collected two measures of CSB usage and four validated gambling measures: the Problem Gambling Severity Index, the Gambling Related Cognition Illusion of Control Scale, the Short Gambling Harm Screen, and the Consumption Screen for Problem Gambling.Results: Overall, 62.0% of participants reported having used a CSB, and those who had used a CSB did so on an average of 29.4 days over the last year. Overall, 16.0% of participants who had used a CSB were current problem gamblers, compared to 6.7% among those who had not. CSB users reported an average of 2.3 out of 10 possible gambling harms, compared to 1.5 harms for those who had not used a CSB. The illusion of control scale was significantly positively correlated with whether participants had ever used a CSB before, but not with past year frequency of CSB usage. The usage of CSB products was most strongly associated with the frequency of gambling consumption.Conclusions: Overall, these findings suggest that CSB products raise distinctive concerns around consumer protection for frequent sports bettors which deserve further investigation.

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