Demand by Heart: Gambling

Li Way Lee () and Aaron Keathley ()
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Li Way Lee: Wayne State University
Aaron Keathley: Wayne State University

Chapter Chapter 18 in 45 Conversations About Behavioral Economics, 2022, pp 73-75 from Springer

Abstract: Abstract For $5, you may play one of two gambles: (a) fair coin flip: If head, you get $10; if tail, you get nothing, (b) super lotto: You get to choose one out of 10 million numbers. By random drawing, if the number that turns up is your number, you get $50 million; if it is not your number, you get nothing. Which gamble appeals to you more? How do you make that decision?

Date: 2022
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DOI: 10.1007/978-3-031-05046-6_18

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