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The purpose of this study was to investigate decision making behavior in children. Twenty-one boys and 21 girls at chronological ages 6, 8, and 10 were placed in a repetitive pay to play gambling situation. Three simulated slot machines were programmed so each had an equal expected monetary return but differed in probability of payoff. The probability levels were 1/1, 1/3, and 1/8. The significant findings were related to sex differences in probability preference. Boys chose the low and intermediate probabilities of payoff significantly more than girls. Boys played the low probability machine significantly more frequently and the high probability machine less frequently on the last 30 as compared to the first 30 trials. There were no significant differences associated with chronological age.
Norman Kass (Mon,) studied this question.