It seems my graphs look similar until they reach the approximate x=500; y=0.85 point on the probability graph. It seems to me that while analysing the task on probability, I presented more distance in terms of 'showing a potential gambler's nature'. The higher the amount - the more certainty I expected to have.
Simultaneously, I have noticed that somehow I tend to look differently at percents than exact amounts of money when considering such tasks. While comparing the y axes of both graphs I realised that I tended to be more cautious in case of describing the probability. While the utility numbers for certainty task were 0.25, 0.5, 0.75 - the percentage probability numbers were slighlty higher in my case: 0.3, 0.6, 8.5. At the same time it seems that in such tasks - when amount options vary from 0 - 1000, I prefer to operate within average numbers - 250 being the lowest, 650 being the highest.
Interestingly, the 650 figure also being my average monthly accommodation/living spendings, which fact produced a belief that it is possible I could 'gamble' for more than that - depending on the financial status. In terms of qualifying to a certain group, my guess is I would be in the 'average/passiv' risk taker. However, we may assume that some of us would act differently, in case someone has given us real money in order to make such an experiment in real conditions. I remember playing monopoly, owning properties but possessing no funds. On the other hand, even in terms of very little sums, I must admit I did motivate myself and was much more careful while playing Texas Hold'em poker.
No comments:
Post a Comment