全球智库信息集成服务系统(G2TT): DP7715 `Let me dream on!' Anticipatory emotions and preference for timing in lotteries

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP7715
	DP7715 `Let me dream on!' Anticipatory emotions and preference for timing in lotteries
	Frans A.A.M. van Winden; Martin Kocher; Michal Krawczyk
发表日期	2010-02-28
出版年	2010
语种	英语
摘要	We analyze one of the explanations why people participate in lotteries. Our hypothesis stipulates that part of the value that a unit of money buys in lotteries is consumed before the actual resolution in the form of emotions such as hope. In other words, a person holding a lottery ticket may prefer a delayed resolution of risk due to positive anticipatory emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may contribute to explaining empirical puzzles associated with lottery participation, timing of resolution and the spreading of drawings. More specifically, we find that a substantial number of participants prefer delayed resolution, that anticipated thrill is the main variable explaining this choice, that emotions actually experienced during the waiting period are indeed predominantly positive and correlated with predictions. Finally, we find that a great majority prefers to `spread' chances, that is, to obtain one ticket for each of two drawings rather than two for the same drawing.
主题	Industrial Organization
关键词	Lotteries Anticipation Experiment
URL	https://cepr.org/publications/dp7715
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/536552
推荐引用方式 GB/T 7714	Frans A.A.M. van Winden,Martin Kocher,Michal Krawczyk. DP7715 `Let me dream on!' Anticipatory emotions and preference for timing in lotteries. 2010.