Cognitive approach

Cards (7)

What does the cognitive approach argue about gambling?
That gambling can be explained via cognitive biases and maladaptive thought processes
What are cognitive biases?
A pattern of thinking and processing information that can distort perception
What were some of the cognitive biases identified?
Illusion of control, availability bias and gamblers fallacy
What is illusion of control?
Where gamblers think of gambling as a skill-based activity and think they have control over their wins
What is gamblers fallacy?
When gamblers believe that if they have a winning streak they are more likely to continue winning
What is availability bias?
When gamblers create a false image based on past wins
What did Griffins study show about cogitative biases?
That regular gamblers made more irrational statements and saw themselves as more skillful than the control group