Although results did not support the “house money” or “break even” effects, the “mood maintenance hypothesis” was robustly supported in all EV conditions. In the present study, participants completed a series of trials on three computerized slot machines with varying expected values (EV −10, 0, +10%) of return on investment, and they were paid a percentage of their final bankrolls in real money. Additionally, the “mood maintenance hypothesis” and affect regulation hypothesis suggest that people in positive and negative affective states are less and more likely to gamble than when in neutral affective states, respectively. For example, the “house money” and “break even” effects suggest that an individual’s risk-taking propensity increases when financially winning or losing during a gambling session. Previous research indicates that when people participate in multi-trial games of chance, the results of previous trials impact subsequent wager size. 4Department of Psychological Sciences, Case Western Reserve University, Cleveland, OH, United States.3Department of Psychology, Springfield College, Springfield, MA, United States. ![]() ![]() 2Department of Psychology, University Center, Saginaw Valley State University, Saginaw, MI, United States.1Department of Psychology, Youngstown State University, Youngstown, OH, United States.
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