Immediate gain is long-term loss: Are there foresighted decision makers in the Iowa Gambling Task?

Table 2 A comparison of gamble structures between the Iowa Gambling Task and Soochow Gambling Task

Iowa Gambling Task	Gain-Loss Frequency (per 10 cards)	EV (per 10 cards)	Choice Prediction Based on Gain-Loss Frequency	Choice Prediction Based on EV
A (Bad)	5 G 5 L	-$250
B (Bad)	9 G 1 L	-$250	B
C (Good)	6.25 G 1.25 L 2.5 S	+$250	C	C
D (Good)	9 G 1 L	+$250	D	D
Soochow Gambling Task *	(per 5 cards)	(per 5 cards)
A (Bad)	4 G 1 L	-$250	A
B (Bad)	4 G 1 L	-$250	B
C (Good)	1 G 4 L	+$250		C
D (Good)	1 G 4 L	+$250		D

(G: gain, L: loss, S: standoff).
* The deck structure for the Soochow Gambling Task is as follows: A, four consecutive gains of $200 followed by a loss of $1,050; B, four consecutive gains of $100 followed by a loss of $650; C, four consecutive losses of $200 followed by a gain of $1,050; D, four consecutive losses of $100 followed by a gain of $650. The experiment was using token money denominated in New Taiwan Dollars. For ease of comparison, the amount of money was nearly equated to U.S. currency in IGT.

ISSN: 1744-9081