Comments on: Behavioral economics wins $1.5 bln U.S. lottery http://blogs.reuters.com/breakingviews/2016/01/13/behavioral-economics-wins-1-5-bln-u-s-lottery/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: itoccurstome http://blogs.reuters.com/breakingviews/2016/01/13/behavioral-economics-wins-1-5-bln-u-s-lottery/comment-page-1/#comment-18826 Thu, 14 Jan 2016 00:05:37 +0000 http://blogs.reuters.com/breakingviews/?p=35033#comment-18826 What I find surprising is the success of most U.S. Lotteries in making one ‘super-winner’ of an unimaginable dollar value. In the current scenario, someone(at some point) will ‘win’ the prize and receive something close to a billion dollars.

No thought seems to have been given to creating a lottery that rewards many players. I imagine there would be a much more enjoyable national reaction to a prize of one million dollars given to 1,000 recipients. I’d also think these funds would re-enter the economy much more rapidly than would the funds of some newly minted billionaire.

As a nation, we seem to embrace the philosophy of ‘winner take all.’ We’re not much inclined to think of sharing the wealth. Why not have something like the Spanish ‘el Gordo’ lottery?

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