Featured Research

from universities, journals, and other organizations

Deal or no deal: Five year olds make smart decisions in games of risk

Date:
January 9, 2013
Source:
Public Library of Science
Summary:
You may have to be over a certain age to be a contestant on "Deal or No Deal", but children as young as five start to maximize their profits -- in cookies -- when making decisions similar to those on the show, according to new research.

You may have to be over a certain age to be a contestant on "Deal or No Deal," but children as young as five start to maximize their profits -- in cookies -- when making decisions similar to those on the show, according to research published Jan. 9 in the open access journal PLOS ONE by Valerie Dufour and colleagues from the National Center for Scientific Research in France.

Children aged 3-9 were given a cookie and presented the option to either keep it or exchange it for one of 6 identical cups containing cookies. The cookies in the cups could be larger, smaller or equal in size to what they already had. The chances of winning a larger cookie were altered by presenting different combinations of cookie sizes in the cups (3 large, 2 equal and 1 small, for example). In each case, the children were told how many cups had a 'winning' cookie before they made their decision.

Three to four-year-olds could not distinguish between the profits to be had by choosing to exchange their cookie when the odds of winning were greater. Kids aged five and up were better at understanding the odds of winning, and their decisions were affected by chances of losing. They also framed their decisions in the context of previous wins or losses.

The researchers found that though children over the age of five were risk-seekers, they also exhibited an aversion to loss typically seen in adults. This aversion arises from a 'better safe than sorry' choice but can also lead to judgment errors in adults, causing a loss of potential profits. The results of this study suggest that this is a decision-making pattern that we begin to learn as early as age five.


Story Source:

The above story is based on materials provided by Public Library of Science. Note: Materials may be edited for content and length.


Journal Reference:

  1. Sophie Steelandt, Marie-H้l่ne Broihanne, Am้lie Romain, Bernard Thierry, Val้rie Dufour. Decision-Making under Risk of Loss in Children. PLoS ONE, 2013; 8 (1): e52316 DOI: 10.1371/journal.pone.0052316

Cite This Page:

Public Library of Science. "Deal or no deal: Five year olds make smart decisions in games of risk." ScienceDaily. ScienceDaily, 9 January 2013. <www.sciencedaily.com/releases/2013/01/130109185843.htm>.
Public Library of Science. (2013, January 9). Deal or no deal: Five year olds make smart decisions in games of risk. ScienceDaily. Retrieved July 28, 2014 from www.sciencedaily.com/releases/2013/01/130109185843.htm
Public Library of Science. "Deal or no deal: Five year olds make smart decisions in games of risk." ScienceDaily. www.sciencedaily.com/releases/2013/01/130109185843.htm (accessed July 28, 2014).

Share This




More Mind & Brain News

Monday, July 28, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Losing Sleep Leaves You Vulnerable To 'False Memories'

Losing Sleep Leaves You Vulnerable To 'False Memories'

Newsy (July 27, 2014) — A new study shows sleep deprivation can make it harder for people to remember specific details of an event. Video provided by Newsy
Powered by NewsLook.com
University Quiz Implies Atheists Are Smarter Than Christians

University Quiz Implies Atheists Are Smarter Than Christians

Newsy (July 25, 2014) — An online quiz from a required course at Ohio State is making waves for suggesting atheists are inherently smarter than Christians. Video provided by Newsy
Powered by NewsLook.com
Beatings and Addiction: Pakistan Drug 'clinic' Tortures Patients

Beatings and Addiction: Pakistan Drug 'clinic' Tortures Patients

AFP (July 24, 2014) — A so-called drugs rehab 'clinic' is closed down in Pakistan after police find scores of ‘patients’ chained up alleging serial abuse. Duration 03:05 Video provided by AFP
Powered by NewsLook.com
New Painkiller Designed To Discourage Abuse: Will It Work?

New Painkiller Designed To Discourage Abuse: Will It Work?

Newsy (July 24, 2014) — The FDA approved Targiniq ER on Wednesday, a painkiller designed to keep users from abusing it. Like any new medication, however, it has doubters. Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
 
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:  

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:  

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile iPhone Android Web
Follow Facebook Twitter Google+
Subscribe RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins