Recently, Campbell-Meiklejohn and colleagues (2008) have developed a laboratory mode of loss-chasing behavior, focusing on what happens when gamblers decide they have to stop gambling. Participants are presented with opportunities to choose between chasing an incurred loss or quitting, avoiding further loss. At the start of the study session, participants are told that they have a fictional £20,000 to play with, but that the participant with highest remaining points at the end of the game will win a real monetary prize. On each “round” of the game, an arbitrary amount of money (£10, £20, £40, £80, or £160) is subtracted from their game total. At this point, participants can choose to “Quit,” accepting this loss and ending the round immediately (“chase-quit”), or they can choose to “Play,” that is, chase the loss. Thus, they can gamble on recovering the loss but at the risk of incurring a further penalty of doubling their current losses. If the outcome of this gamble is positive (“chase-win”), the loss is recovered and the round ends. If the outcome is negative (“chase-loss”), the loss is
