On lottery sales, jackpot sizes and irrationality: A cautionary note

C-Tier
Journal: Economics Letters
Year: 2010
Volume: 109
Issue: 3
Pages: 161-163

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Jackpot size has a greater impact than expected price as a determinant of lottery sales suggesting that agents exhibit irrational lotto mania. We demonstrate why this conclusion is problematical by considering the reduced form obtained if agents are described by Cumulative Prospect Theory.

Technical Details

RePEc Handle
repec:eee:ecolet:v:109:y:2010:i:3:p:161-163
Journal Field
General
Author Count
1
Added to Database
2026-01-28