The Influence Of Previous Results On The Following Decision Making Behavior In Progressive Decision Making

In recent studies of progressive decision-making, most of them adapt virtual reward, set specific preconditions, and select a certain index to determine the examinees' tendency of risk decision-making. These studies usually have a low sensitivity and lack ecological features. In this study, it improves a common 24-point game from the real life. It chooses different reward rules(real money and virtual reward points) and award amount(a high one and a low one) as independent variables. And it selects the number that over 24 / 48, and the number of Hit, and the sum of cards count at the end of the game in experiment as the dependent variables. The study investigates the impact of different reward rules and amount on the examinees' decision making. It also studies the change of risky decision making behaviors in positive and negative feedback conditions. The results are followed:1) Different rewards do have different effects on decision-making behaviors, examinees of reward points show a higher risk propensity than the group of money reward.(2) For the group of reward points, the award amount have no effect on the decision-making behavioral choices.(3) For the group of financial incentive, the award amount could have effect on the behaviors of the examinees' risk preferences, examinees who receive high reward amount show a lower level of risk appetite than the examinees of low reward amount.(4) The results of previous decision-making behavior would have an impact on the following behavior. Under the condition of positive feedback, the examinees of financial incentives maintain the stability of the decision-making preferences, while the group of reward points increase their risk-taking tendency; and in conditions of negative feedback, both of them would reduce their risk appetite.