Behavioral Measures of Gain-Loss Asymmetry as a Function of Gender and of Virtual v. Actual Money

Cognitive psychologists have used cognitive methods involving hypothetical scenarios and outcomes to identify and measure the asymmetrical effects of gains and losses on human choice and decision-making. In our experiments, we used behavioral methods and measures instead. The participants (N=26 with 15 females) played a computer game during daily 36-min sessions. Embedded in the game were conjoint interdependent concurrent variable-interval schedules for both gains and losses. Occasionally, clicking produced an on-screen indication of a gain (“+10¢”) or a loss (“-10¢”). The research design was three-part. We first determined participants’ loss/gain asymmetry ratios. The overall mean ratio using a mixedmodel analysis was 2.18. Second, we parsed the results by gender. The mean ratios were 2.49 for females and 1.92 for males. Third, we compared the effects of (a) converting +/- points that appeared on the screen during the game to money at the game’s end versus (b) displaying points on the screen and simultaneously delivering money through a coin-dispenser or requiring the participant to deposit coins instead. All participants showed increased loss aversion in the latter condition. This result was unaffected by gender. We discussed our findings in the context of prospect theory, a leading cognitive account of risk aversion.

Keywords:Humans; Video game; Concurrent variable-interval schedule; Gain (reinforcer); Loss (punisher); Gain-loss asymmetry gender difference; Prospect theory; Gain/loss asymmetry; Loss aversion; Risk aversion