Along those lines - the guy who cashes - for whatever reason - constantly. "Machine knows you are winning if a bunch of credits/coins are on the meter"! This was a real annoyance when everything was coin droppers. To each his own.... There was an old guy who played the sportsbook bar at LVH a few years ago - when they had the coin droppers - and FP pick-'em. He was a chain smoker and cashed all the time. Drove the slot guys nuts always having to do his fills. I tried not to get too close....(-;
Jigger
"My anger management class pisses me off"
"You can"t drink all day if you don't start in the morning"
--- On Sat, 2/25/12, Frank <frank@progressivevp.com> wrote:
> From: Frank <frank@progressivevp.com>
> Subject: [vpFREE] Re: Post of Dr. William G. McCown Q&A
> To: vpFREE@yahoogroups.com
> Date: Saturday, February 25, 2012, 3:55 PM
> OK that will do for a talking point.
>
> So in your opinion, if I understand you, playing machines
> with a negative expectancy qualifies as a misconception to
> you, and you don't understand why people do it. I'll try to
> answer.
>
> I'm sure people are gong to disagree with you, so I won't
> get involved in that, but here's what I know about the
> heuristic that may be involved in the dynamic.
>
> The Availability Heuristic, makes things which are more
> easily remembered dominate our decision making process.
> Combined with reduced sensitivity to negative stimuli and
> increased sensitivity to positive stimuli a net negative
> situation can be enjoyable to some people.
>
> Imagine a totally hypothetical situation where flipping a
> coin heads was positive, and having it come up tails was
> negative. Now imagine that the person flipping the coin
> remembers disproportionately the times they win over the
> times they lose. And lastly try to imagine that they don't
> "feel" the loss that much, but they get very excited by the
> wins.
>
> In this fashion one could derive enjoyment from flipping a
> coin even though the activity was net neutral from a
> financial point of view.
>
> Does that help explain it?
>
> It's hard to put a price on enjoyment and entertainment, and
> I see no fundamental problem with money spent on
> entertainment as long as people know that's what they are
> doing.
>
> The line of "problem" is only crossed if the think they are
> winning when they are not. (Here I'm not talking about
> expectancy, I'm talking about actual results.) The easiest
> way to avoid this trap is keeping accurate lifetime records.
> Your brain might only remember the wins, but a piece of
> paper should be immune to this heuristic.
>
> ~FK
>
> --- In vpFREE@yahoogroups.com,
> "jim_mason7" <7711-jimmason@...> wrote:
> The concept must be above my pay grade. I play VP to win
> $$.
> > As long as the play is positive it is worth my time and
> risk.
> > I personally do not understand other people's
> motivation to
> > play any casino game for a result the would yield less
> in the long run. However, this is still a free
> country, so as long as one can afford it, each to his own.
> >
> > --- In vpFREE@yahoogroups.com,
> "Frank" <frank@> wrote:
> > >
> > > Wow...I'm surprised that in two days no one has
> posted their favorite casino misconception and discussed
> what heuristic might cause it.
> > >
> > > I thought that since this was vpFREE, a site
> devoted to VP, I'd see tons of chatter. I could provide a
> few to get the ball rolling, but that would defeat the
> purpose, since I'm more interested in what's interesting to
> all of you.
> > >
> > > I already know what I think...or at least I think
> I do.
> > >
> > > ~FK
> > >
> > > --- In vpFREE@yahoogroups.com,
> "Frank" <frank@> wrote:
> > > >
> > > > Here's what I was hoping to see in this
> thread. Above is a really good real world example of where
> real people, in this case flight instructors, came to
> exactly the wrong conclusions even though they're
> observations were correct.
> > > >
> > > > Since this is vpFREE I thought people might
> want to chime in with VP related cognitive errors like
> thinking that end machines are luckier, because they hit
> more.
> > > >
> > > > State a casino misconception and then talk
> about what causes it. You're on your own for a few days, but
> I'll check in on Saturday.
> > > >
> > >
> >
>
>
>
>
> ------------------------------------
>
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