andrewducker + lottery   10

The Lottery Frustrator
Tells you what you would have won if you'd entered the same numbers in the UK national lottery since it started. £260 for me. Would have cost me £1500 to do it. Means I'm bound to win next week, right?
lottery  money  UK 
june 2009 by andrewducker
Lottery Tickets and Credit Cards: The Dangers of an Irrational Brain
A paper in the Journal of Behavioral Decision Making was inspired by the empirical observation that the poor spend a disproportionate percentage of their income on lottery tickets. They conducted two experiments to examine whether making people feel poor makes them want to play the lottery.

Subjects were made to either feel relatively poor or relatively rich The group made to feel poor purchased twice as many lottery tickets (an average of 1.27) than those made to feel relatively wealthier (0.67 tickets, on average).

In the second experiment, we indirectly reminded participants that, while different income groups face unequal prospects when it comes to education, employment and housing, everyone has an equal chance to win the lottery. This reminder that the lottery is a kind of “social equalizer” also increased lottery tickets purchases. The group given this reminder purchased 1.31 tickets, on average, as compared with 0.54 for those not given such a reminder.
lottery  gambling  brain  decisions 
october 2008 by andrewducker

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