The Repeated Gambles Task: A Measure of Individual Differences in Normative Decision Making

Abstract

Abstract Most decision-making inventories measure bias and little attempt is made to identify individuals who are more likely to maximize economic opportunities. Four experiments tested a novel measure of individual differences in normative decision making that is easy to administer and identifies a wide range of variance in economic choice. All four experiments demonstrated that responses to the Repeated Gambles Task (RGT) are independent of ostensibly related measures and identify the tendency to make normative decisions. The RGT may be used in educational, research and applied settings to examine the effectiveness of training and to aid in research and hiring decisions. As such, the RGT is offered as a novel tool for use in a wide-range of basic and applied settings.