Margin of Luck and Value of Information in Lottery Purchases in Thailand
作者: Seksiri NIWATTISAIWONG Komsan SURIYA
刊名: RAIS Journal for Social Sciences, 2018, Vol.2 (2)
来源数据库: Research Association for Interdisciplinary Studies
DOI: 10.5281/zenodo.1506714
关键词: Rational behaviorMargin of luckValue of informationSearch cost
原始语种摘要: This paper investigates the rationality behind the superstitious behavior of Thai lottery gamblers who search for a lucky number in hopes to win the Last Two Digits Prize. It also finds whether the historical statistics from the previous 25 years of lottery draws can help to develop a winning strategy. As the findings show, some lottery numbers have certainly been drawn more than once for the Last Two Digits Prize in every 30 lottery rounds. It seems to be that having this statistical knowledge significantly increases the chance to win when considering the full range of prizes. However, given that the expected return is illusive, playing the lottery having this prior knowledge may turn out to be a loss. Evidently, statistics does not contribute to winning. The only way to win is to know...
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关键词翻译
关键词翻译
  • lottery 抽彩
  • rationality 有理性
  • number 号码
  • statistics 统计
  • buyer 买主
  • winning 开采
  • expected 预期
  • strategy 战略
  • money 金钱
  • superstitious 迷信