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Learning under uncertainty: A model-based approach for understanding gambling behaviour

Author: E. Yu Published: November 2010
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Summary

This thesis by Erica Yu examines gambling behaviour through a model-based approach, aiming to understand both the strengths and weaknesses in gamblers' decision making.

Topics covered

  • theoretical approaches to studying gambling behaviour
  • experimental studies on roulette, dice games and slot machines
  • computational modelling of gambling cognition
  • belief updating in dynamic environments like poker

Key findings

The research shows gamblers use structured mental models of games that include beliefs about underlying processes. These models persist even when contradicted by evidence.
Expertise can help overcome some biases, but may introduce others. Overall, the findings support taking a model-based approach to studying gambling over purely rational or heuristic accounts.

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