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

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On lottery sales, jackpot sizes and irrationality: A cautionary note. / Peel, David.

In: Economics Letters, Vol. 109, No. 3, 12.2010, p. 161-163.

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Peel, David. / On lottery sales, jackpot sizes and irrationality: A cautionary note. In: Economics Letters. 2010 ; Vol. 109, No. 3. pp. 161-163.

Bibtex

@article{496002a3b3454058badbae4495bfdbfd,
title = "On lottery sales, jackpot sizes and irrationality: A cautionary note",
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.",
keywords = "Lottery sales, Cumulative prospect theory , Jackpot size , Irrationality",
author = "David Peel",
year = "2010",
month = "12",
doi = "10.1016/j.econlet.2010.08.020",
language = "English",
volume = "109",
pages = "161--163",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier",
number = "3",

}

RIS

TY - JOUR

T1 - On lottery sales, jackpot sizes and irrationality: A cautionary note

AU - Peel, David

PY - 2010/12

Y1 - 2010/12

N2 - 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.

AB - 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.

KW - Lottery sales

KW - Cumulative prospect theory

KW - Jackpot size

KW - Irrationality

U2 - 10.1016/j.econlet.2010.08.020

DO - 10.1016/j.econlet.2010.08.020

M3 - Journal article

VL - 109

SP - 161

EP - 163

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 3

ER -