Gain, cost, and event probability as determiners of choice behavior

Abstract

Differential gain, cost, and event probability were varied in a 2 choice situation. Increases in the gain associated with a correct response, increases in the probability of being correct, and decreases in the cost of an incorrect response all result in increases in the probability of that response. Gain had a greater effect than cost, but both variables became less effective as event probability increased. Changes in these relationships were noted as a function of trials. (PsycINFO Database Record (c) 2012 APA, all rights reserved)