TY - JOUR
T1 - An examination of factors driving chinese gamblers' fallacy bias.
AU - Fong, Lawrence Hoc Nang
AU - Law, Chun Hung Roberts
AU - Lam, Desmond
PY - 2014/1/1
Y1 - 2014/1/1
N2 - Gambling is a leisure activity, which is enjoyed by many people around the world. Among these people, Chinese are known for their high propensity to gamble and are highly sought after by many casinos. In this exploratory study, the effect of two types of fallacy bias-positive recency and negative recency-on the betting behavior of Chinese gamblers is investigated. Although the influence of fallacy bias on a betting decision is well documented, little is known about the interaction of the factors that dictate fallacy bias. Drawing from an analysis of 2,645 betting decisions, the results show that Chinese gamblers primarily endorse positive recency, especially when the latest outcome is more frequent. This is contrary to most findings on Western subjects in which negative recency is more common. Current findings have meaningful implications to casino gaming entertainment businesses and public policymakers.
AB - Gambling is a leisure activity, which is enjoyed by many people around the world. Among these people, Chinese are known for their high propensity to gamble and are highly sought after by many casinos. In this exploratory study, the effect of two types of fallacy bias-positive recency and negative recency-on the betting behavior of Chinese gamblers is investigated. Although the influence of fallacy bias on a betting decision is well documented, little is known about the interaction of the factors that dictate fallacy bias. Drawing from an analysis of 2,645 betting decisions, the results show that Chinese gamblers primarily endorse positive recency, especially when the latest outcome is more frequent. This is contrary to most findings on Western subjects in which negative recency is more common. Current findings have meaningful implications to casino gaming entertainment businesses and public policymakers.
UR - http://www.scopus.com/inward/record.url?scp=84907868258&partnerID=8YFLogxK
U2 - 10.1007/s10899-013-9390-9
DO - 10.1007/s10899-013-9390-9
M3 - Journal article
C2 - 23740349
SN - 1573-3602
VL - 30
SP - 757
EP - 770
JO - Journal of gambling studies / co-sponsored by the National Council on Problem Gambling and Institute for the Study of Gambling and Commercial Gaming
JF - Journal of gambling studies / co-sponsored by the National Council on Problem Gambling and Institute for the Study of Gambling and Commercial Gaming
IS - 3
ER -