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Four essays and a note on the demand for lottery tickets and how Lotto players choose their numbers
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Florence : European University Institute, 1998
EUI; ECO; PhD Thesis
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SIMON, Jonathan, Four essays and a note on the demand for lottery tickets and how Lotto players choose their numbers, Florence : European University Institute, 1998, EUI, ECO, PhD Thesis - https://hdl.handle.net/1814/5066
Abstract
My first encounter with lotteries came in the winter of 1993/94, during a secondment to Camelot, which was then one of the eight consortia bidding for the Licence to operate the UK National Lottery. At that time. I was struck by the data that showed the widespread popularity of lotteries around the world. The first time that I returned to England from Florence was for Christmas in 1994, just over a month after the launch of the National Lottery in the UK. Even though I had followed events in the British newspapers while I was in Italy, I was still amazed by the extent of the fever which had gripped the country in the short time that I had been away. It seemed that everybody was playing, and talking about, the lottery. It was clear then that this phenomenon would make a fascinating research topic. National or state lotteries are currently offered across the whole of Europe and most of the US (37 states plus the District of Columbia).1 Lottery sales account for about one-third of gross gambling expenditure in both the UK and the US,2 while the gambling industry itself is the 12th largest in Europe, with a turnover of $60bn in 1989.3 In that year, gross national or state lottery sales were $20.5bn in Europe and $19.5bn in the United States.4 The latter figure is equivalent to a per capita expenditure of $108 for the population in lottery states.
Table of Contents
-- The demand for lottery tickets when excitement is added to the expected utility model
-- Dreams and disillusionment : a dynamic model of lottery demand
-- The expected value of lotto when not all numbers are equal
-- An analysis of the distribution of combinations chosen by National Lottery players
-- Luck had something to do with it : the excessive number of rollovers in the UK National Lottery
Additional Information
Defence date: 11 June 1998
Examining board: Prof. David Gulley, Bentley College, Waltham (USA) ; Prof. Søren Johansen, EUI ; Prof. Spyros Vassilakis, EUI, Supervisor ; Prof. Ian Walker, Keele University
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017
First made available in Open Access: 09 December 2024
Examining board: Prof. David Gulley, Bentley College, Waltham (USA) ; Prof. Søren Johansen, EUI ; Prof. Spyros Vassilakis, EUI, Supervisor ; Prof. Ian Walker, Keele University
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017
First made available in Open Access: 09 December 2024