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How many lottery tickets to buy? - MaRDI portal

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How many lottery tickets to buy? (Q1088869)

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scientific article; zbMATH DE number 4001814
Language Label Description Also known as
English
How many lottery tickets to buy?
scientific article; zbMATH DE number 4001814

    Statements

    title
    How many lottery tickets to buy? (English)
    0 references
    author
    Yigal Gerchak
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    Diwakar Gupta
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    publication date
    1987
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    review text
    We investigate the optimal number of tickets an expected-utility- maximizing individual who participates in a lottery will buy. We show that the expected utility is not always unimodal in the number of tickets. We also show that a risk-averse individual will not buy more than one ticket. (S)he will be willing to own a share in several tickets only if that share is sufficiently small.
    0 references
    zbMATH Keywords
    optimal number of tickets
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    lottery
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    expected utility
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    Identifiers

    zbMATH DE Number
    4001814
    0 references
    OpenAlex ID
    W2002059808
    0 references
     
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