Lotto fever: do lottery players act rationally around large jackpots?

Lotto fever: do lottery players act rationally around large jackpots?

“Lotto fever” occurs when an increase in ticket sales reduces the expected value of a lottery ticket despite a higher jackpot. An examination of 17,538 lotto drawings in the United States finds that examples of lotto fever are exceedingly rare.

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Bibliographische Detailangaben
Veröffentlicht in:Economics letters 2004-05, Vol.83 (2), p.233-237
Hauptverfasser: Matheson, Victor A, Grote, Kent R
Format: Artikel
Sprache:eng
Schlagworte:
Economic theory
Economics
Gambling
Games
Lotteries
Lottery
Lotto
Rationality
Sales
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Beschreibung
Zusammenfassung:“Lotto fever” occurs when an increase in ticket sales reduces the expected value of a lottery ticket despite a higher jackpot. An examination of 17,538 lotto drawings in the United States finds that examples of lotto fever are exceedingly rare.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2003.11.010