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Updated: May 5, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Commercial gambling and values in American society: The social construction of risk
1Department of Sociology and American Studies, Pennsylvania State University (Ogontz Campus), 19001, Abington, PA.
Abstract:
Human existence is rooted in the individual's confrontation with risk from birth through death. Factors beyond individual control constantly produce random threats to the individual's welfare. The anxieties created by these events often cannot be resolved by the individual, but require the explanatory support of cultural values and belief systems. These values and belief systems allow a sense that socially managed activities can reduce adverse consequences to the individual in the face of random circumstances. This paper discusses the relationships among public policy, American values, and gambling as a cultural buffer to existential anxieties caused by chance events.
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