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Why Do Lotteries Have Multiple Prizes?

Author

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  • Brenner, G.A.
  • Brenner, R.

Abstract

According to Some Scholars Who Wrote on Risk-Taking, the Question Why Are There Multiple Prizes in Lottery Games Seems to Be - Quotes Milton Friedman - "One of the Chief Intellectual Issues Open in This Area". Elying on Brenner's (1983, 1985, 1987) Model, a Straightforward Explanation Can Be Given to the Existence of Both the Numerous Small Prizes and the Existence of a Number of a Larger Ones.

Suggested Citation

  • Brenner, G.A. & Brenner, R., 1987. "Why Do Lotteries Have Multiple Prizes?," Cahiers de recherche 8736, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8736
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    Keywords

    Risk ; Game Theory;

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