Heterogeneous agents and the implications of the Markowitz model of utility for multi-prize lottery tickets

C-Tier
Journal: Economics Letters
Year: 2013
Volume: 119
Issue: 3
Pages: 264-267

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

The purpose in this letter is to demonstrate, employing two parametric forms of the Markowitz model of utility, that heterogeneity of preferences of Markowitz agents can contribute towards an explanation of why lotteries typically have multiple rather than single prizes.

Technical Details

RePEc Handle
repec:eee:ecolet:v:119:y:2013:i:3:p:264-267
Journal Field
General
Author Count
1
Added to Database
2026-01-28