Iowa Gambling Task

Iowa Gambling Task

What is the Iowa gambling task? Allow me to illustrate this for you. Okay. You have
a participant. He is sitting in front of
a computer screen. This is what he sees.
He sees a virtual representation of four
decks of playing cards. And then he sees
these two bars up here. One is green. One is red. Now this red bar represents how
much cash the participant is given at
the beginning of the game. Now, here’s the
trick. Most research studies will give
them monopoly money. Okay. Not real money,
but monopoly money. Alright.
So you’re getting basically fake money.
But if you’re lucky enough to get into
the some of these research studies, some
of them, a rare few, will actually give
you real life money.
Wow! Okay. So hopefully you’ll be one of
those rare few that will get into a
research study where they start actually
giving you real live cash. Don’t count on
it though. Anyway. So this is what you see. Now on this particular research study
we’re going to presume they’re giving
them monopoly money instead of real
money. So you’ve got $2,000 worth of
monopoly money right off the bat. Now
then what you’re supposed to do is
you’re supposed to pick cards out of
these four decks. You could…all you do is…you hover your mouse over a particular
pile of cards. And when you click it
you’ve actually picked a card. Okay. Now
sometimes when you pick a card, you’ll
win money. Okay. Say you clicked on this
particular deck right here, the card
turns over, and you win 40 bucks. So now
you got two thousand and forty dollars.
Okay. Now then. Sometimes
you’ll click on a deck like this, the
card will turn over, and it will say,
“you’ve won a hundred bucks.” But now
you’ve lost thirty. Well, you’re still 70 dollars ahead. So
now you’ve got two thousand and seventy
Get the picture. Now sometimes you’ll pick a card, you say…
you click on this thing right here. It will
say, “you won $50.” But then it will turn
around and say, “but you got now you’ve
lost $100.” So now you’ve lost more than
you actually won. So now you’re a $1,950. See what I mean? Now you continue to pick cards out
of these decks until such time as the
computer says you have to stop. It would
be nice if you could pick every single
card out of every single deck, but they
won’t let you do that. At a certain point
there’s a timer on it. It shuts off. Now
the goal is you’re supposed to not only
retain the $2,000 you’re given right off
the bat, but also you’re to get as much
money over and above the $2,000 as you
can possibly get before the computer
stops you. Now here’s the key. Some of
these decks of cards have better cards
than the others. Okay? Let’s say we have
deck C and deck D. Now you pick a card out of deck C and you win $50, and you don’t
lose anything. Okay. You pick a card out
of deck D. Okay? Let’s say you pick a card
out of deck D. That card wins your 25, but
cost you 50. Well, are you going to continue
picking cards out of deck D? Absolutely
You’ll start picking cards out of deck C,
because that at least wins your money
and doesn’t lose you anything. And maybe if you continue to pick out of this
thing…ah…it will continue to win you money without you losing anything. And win you
bigger amounts of money too. Say the first time you pick it and…wins you only $50.
The next time you pick a card out of there it wins you a hundred dollars. Say the
next time you pick a card out there it wins
you $300. Well, you’re going to want to keep
picking out a deck C, because it’s
winning you more and more money.
And it’s not losing you anything. See what I mean? So like I said, when the whole thing
stops, then not only are you supposed to
be able to maintain the two thousand
dollars you were given at the beginning
of the game, but you’re also supposed to
show a profit beyond that. And if you do
you’re a pretty smart cookie.
If you aren’t…well there you go.
Anyway…if you have any comments or
questions on this go ahead and leave
them down in the comments below. I will
tell you more in a future video. Stay

5 thoughts on “Iowa Gambling Task”

  1. I'm using the IGT for my undergraduate dissertation. I'm trying to find a script online of the task administrated under time pressure. Any suggestions?

  2. This fascinating experiment was conducted by neuroscientists Antoine Bechara, Antonio Damasio, Hanna Damasio and Daniel Tranel and reported in Journal Science in 1997 under the title "Deciding Advantageously Before Knowing the Advantageous Strategy". I suggest people study the source than listen to this nonsense that is a poor representation of the original experiment and does nothing to debrief or analyse the scientific findings.

  3. What is the reason for the cards which say you win AND lose at the same time. Why not just give you the NET amount, whether its win or loss?

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