Variations on the balloon analogue risk task: A censored regression analysis

Michael E Young1, Anthony W McCoy2

  • 1Department of Psychological Sciences, Kansas State University, 492 Bluemont Hall, Manhattan, KS, 66506-5302, USA. michaelyoung@ksu.edu.

Summary

This study reexamined the Balloon Analogue Risk Task (BART) using variations to understand risk aversion. Findings suggest early responses are not due to effort avoidance but potentially risk aversion influenced by immediate feedback.

Related Concept Videos

Regression Analysis01:11

Regression Analysis

Regression analysis is a statistical tool that describes a mathematical relationship between a dependent variable and one or more independent variables.
In regression analysis, a regression equation is determined based on the line of best fit– a line that best fits the data points plotted in a graph. This line is also called the regression line. The algebraic equation for the regression line is called the regression equation. It is represented as:
8.4K
Regression Toward the Mean01:52

Regression Toward the Mean

Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when...
7.1K
Microsoft Excel: Regression Analysis01:18

Microsoft Excel: Regression Analysis

Regression analysis in Microsoft Excel is a powerful statistical method for examining the relationship between a dependent variable and one or more independent variables. It's used extensively in fields such as economics, biology, and business to predict outcomes, understand relationships, and make data-driven decisions. The most common type is linear regression, which attempts to fit a straight line through the data points to model the relationship between variables.
To perform regression...
1.6K
Censoring Survival Data01:09

Censoring Survival Data

Survival analysis is a statistical method used to analyze time-to-event data, often employed in fields such as medicine, engineering, and social sciences. One of the key challenges in survival analysis is dealing with incomplete data, a phenomenon known as "censoring." Censoring occurs when the event of interest (such as death, relapse, or system failure) has not occurred for some individuals by the end of the study period or is otherwise unobservable, and it might have many different...
555
What is Variation?01:14

What is Variation?

Apart from the measures of central tendency, distribution, outliers, and the changing characteristics of data with time, an important characteristic of any data set is its variation or spread. In some data sets, the data values are concentrated closely near the mean; in others, the data values are more widely spread out from the mean.
The range, standard deviation, standard error, and variance are the different measures of variation.
Range: The range is the difference between its maximum and...
18.6K
Multiple Regression01:25

Multiple Regression

Multiple regression assesses a linear relationship between one response or dependent variable and two or more independent variables. It has many practical applications.
Farmers can use multiple regression to determine the crop yield based on more than one factor, such as water availability, fertilizer, soil properties, etc. Here, the crop yield is the response or dependent variable as it depends on the other independent variables. The analysis requires the construction of a scatter plot...
4.0K