The behavioral psychology of lotteries
August 15, 2008 – 12:11 pm by JohnIn the August 15, 2008 issue of Science, in the Editors’ Choice section of the journal, highlighting recent scientific articles the editors of Science found interesting, a study on the psychology underlying socioeconomic trends in lottery-playing was summarized:
… The low chances of winning life-style-altering prizes are prominently posted, yet many people, especially those in low-income brackets, pay $1 in order to receive only 50ยข in return, on average. What motivates such financially maladaptive behavior? Haisley et al. suggest that one contributory factor is the psychological desire to improve one’s standing in a social hierarchy defined by one’s friends and neighbors. When bus passengers earning $20,000 annually were subjected to a subtle manipulation (in the form of answering a survey), those induced to feel that their income was below average purchased twice as many scratch-off tickets as those placed at the midpoint of an income ladder. One reason why playing the lottery holds a differential appeal for lower-income individuals (and why they buy into this dream) is implicit in the winning chances, which though small, apply equally to all players, regardless of socioeconomic status. …
Or, it could be that THEY ARE BAD AT MATH! Lotteries are a tax on people who are bad at math!
No, I think it’s probably a good and valid study, I just wanted to remind people that poor people who spend a lot of money on lottery tickets do so because they are bad at math and/or they fool themselves into believing in the fantasy that they will win anyway.
One Response to “The behavioral psychology of lotteries”
Even worse, in most places lotteries are a TAX on people who are bad at math…
By Mike on Aug 15, 2008