+1 862 207 3288 Psyc307
Lab Report Assessment Guidelines
Aim: The purpose of this assessment is to explore in – depth a contemporary issue within the field
of cognitive psychology and develop and refine your lab report writing skills according to APA
guidelines.
Worth: 43%
Due: T uesday , 16
th
September.
Length: 1800- 2000 words
Format: APA Laboratory Report (APA 6
th
edition )
You will be marked according to the laboratory report marking criteria which is found in
the PSYC307 unit outline.
Background
It has been argued th at, as a survival mechanism, animals (including humans) are more likely to
take risks to gain food when they are deprived of food (for a starting reference see Levy et al.,
2013). It has also been argued that for humans, food and money have become entwined ( for a
starting reference see Briers etal., 2006); for instance, when a person is hungry they may feel
poorer and when they feel poor they may feel hungrier. Thus, people who are deprived of food
may be more likely to take risks for money as well as food . Further , it is possible that when a
person feels poorer they behave in the same way as when they are deprived from food .
The present study examines the effects of feeling of wealth on economic risk taking behaviour.
Recommended starting references
Brie rs, B., Pandelaere, M., Dewitte, S. & Warlop, L. (2006). Hungry for money: The desire for
caloric resources increases the desire for financial resources and vice versa.
Psychological Science, 17 (11), 939 – 943.
Levy, D. J., Thavikulwat, A. C. & Glimcher, P. W. (2013). State dependent valuation: The effect
of deprivation on risk preferences. PLoS ONE, 8 (1). doi:10.1371/journal.pone.0053978
The present study
Aim
The aim of the study is t o determine whether feelings of wealth can influence economic risk
t aking behaviour.
Design, Measures, and Materials
Independent variables
• Feeling of wealth .
o Feeling P oor
Imagine you have just won $50,000 in the lottery. Please make a list of all
of the things y ou would buy with the $50,000.
o Feeling Satisfied
Imagine yo u have just won $50 in the lottery. Please make a list of all of
the things you would buy with the $50.
Dependent variable
o Risk taking
o Number of risky choices (out of four.)
For each of the following questions, choose the option that you would most prefer:
o □ Guaranteed $15 □ 80% chance of winning $20
o □ Guaranteed $15 □ 50% chance of winning $30
o □ Guaranteed $15 □ 20% chance of winning $75
o □ Guaranteed $15 □ 5% chance of winning $300
Demographic Questions
• age
• gender
Lab report requirement
• Your task is to present a well – argued and critical APA laboratory on the topic described
above.
• You are to determine whether feelings of wealth (feeling poor vs feeling satisfied) have
an effect on the number of risky decisions a person makes.
• Remember that you should always develop your hypotheses before analysing the
data. It doesn’t matter if your hypothesis is unsupported (but, if it isn’t supported,
you will need to offer suggestions in the discussion for why it was unsupported).
• You are to perform independent samples t -test on the data to present in the results section.
• This guide gives you some starting references in the area; however, you will need to do
more research to develop your hypotheses.
• It is important that you start researching early; it is essential that you produce well
researched and logical arguments for you r hypothesis/hypotheses.
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