Why Do Lotteries Have Multiple Prizes?

G.A. Brenner and R. Brenner

Cahiers de recherche from Universite de Montreal, Departement de sciences economiques

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.

Keywords: Risk; Game Theory (search for similar items in EconPapers)
Pages: 8P. pages
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montde:8736

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