Breakingviews

Behavioral economics wins $1.5 bln U.S. lottery

January 13, 2016

The biggest-ever jackpot for a single ticket-holder hangs in the balance. State officials helped engineer the Powerball frenzy by tapping into the sorts of theories advanced by Nobelist Daniel Kahneman and others. It takes more than a dollar and a dream to woo punters these days.

Lottery mania behavioral quirk also causes bubbles

March 30, 2012

Punters on the $540 mln Mega Millions U.S. jackpot are fixating on what they’ll do with their winnings. This economically regressive and socially destructive behavior also drives the gambling business. In markets the same impulse creates bubbles and encourages rogue traders.