The joy of lottery play: evidence from a field experiment

Burger, Martijn; Hendriks, Martijn; Pleeging, Emma; Ours, Jan C. van

doi:10.1007/s10683-020-09649-9

Cited by 40 publications

(11 citation statements)

References 44 publications

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“…In line with this hypothesis, Ladouceur et al (2003) find that the act of gambling is arousing, especially when expecting to win money. Similarly, recent field evidence suggests that lottery participation itself yields utility in advance of observing the outcome as feelings of joy and excitement irrespective of whether the lottery ticket was free or had to be purchased (Burger et al, 2020). These findings motivate our last hypothesis.…”

Section: Investigated Hypothesessupporting

confidence: 64%

Excited and aroused: The predictive importance of simple choice process metrics.

Mueller¹,

Ring²,

Fischer³

2022

Journal of Neuroscience, Psychology, and Economics

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We conduct a lottery experiment to assess the predictive importance of simple choice process metrics (SCPMs) in forecasting risky 50/50 gambling decisions using different types of machine learning algorithms as well as traditional choice modeling approaches. The SCPMs are recorded during a fixed pre-decision phase and are derived from tracking subjects' eye movements, pupil sizes, skin conductance, and cardiovascular and respiratory signals. Our study demonstrates that SCPMs provide relevant information for predicting gambling decisions, but we do not find forecasting accuracy to be substantially affected by adding SCPMs to standard choice data. Instead, our results show that forecasting accuracy highly depends on differences in subject-specific risk preferences and is largely driven by including information on lottery design variables. As a key result, we find evidence for dynamic changes in the predictive importance of psychophysiological responses that appear to be linked to habituation and resource-depletion effects. Subjects' willingness to gamble and choice-revealing arousal signals both decrease as the experiment progresses. Moreover, our findings highlight the importance of accounting for previous lottery payoff characteristics when investigating the role of emotions and cognitive bias in repeated decision-making scenarios.

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Section: Investigated Hypothesessupporting

confidence: 64%

Excited and aroused: The predictive importance of simple choice process metrics.

Mueller¹,

Ring²,

Fischer³

2022

Journal of Neuroscience, Psychology, and Economics

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“…In fact, Burger et al (2016) found a (though small) effect of lottery participation on happiness for British recreational gamblers. Burger et al (2020) found a positive effect for Dutch gamblers.…”

Section: Non-financial Motivesmentioning

confidence: 93%

“…For example, gamblers may derive direct utility from the act of anticipating elation after winning (see e.g., He et al, 2019b;Loewenstein, 1987). The act of playing for example, a lottery thus might carry a utility value in its own and part of that utility is already consumed before the draw (see Burger et al, 2020). In fact, Burger et al (2016) found a (though small) effect of lottery participation on happiness for British recreational gamblers.…”

Section: Non-financial Motivesmentioning

confidence: 99%

How rational is gambling?

Stetzka

Winter

2021

Journal of Economic Surveys

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The typical gambler loses money but continues to gamble nonetheless. Why? Research from orthodox and behavioral economics, psychology, sociology, and medicine has offered a wide range of possible explanations. This paper reviews these explanations. The evidence is organized according to the degree of rationality assumed and/or found in the studies. This approach allows research from highly distinctive fields to be integrated within a unified framework. Gambling patterns are so highly dispersed that no satisfying one‐fits‐all explanation is possible. The findings suggest that the whole spectrum from rationality to highly destructive irrationality can be found within the gambler population.

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“…A number of studies show that in more developed countries, happiness or subjective well-being is often higher in smaller cities than in larger ones (Burger et al, 2020). This is also what we observe.…”

Section: Qol In European Cities: 2019 Surveymentioning

confidence: 99%

What makes cities happy? Factors contributing to life satisfaction in European cities

Castelli

d’Hombres

Dominicis³

et al. 2023

European Urban and Regional Studies

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The purpose of this study is to identify the main factors of city life satisfaction across Europe. Data come from the recent fifth survey on quality of life in European cities and cover 83 cities located in the European Union, the European Free Trade Association countries, the United Kingdom, the Western Balkan Region and Turkey. In addition to running classical econometric analysis, we quantify the relative importance of the various determinants of overall satisfaction with life in cities, thus offering novel insights to shape evidence-based urban policies. The results highlight that two main policy-relevant areas contribute to the satisfaction with city life: the presence of amenities, on the one hand, and the inclusiveness and safety feeling, on the other hand. Socio-economic characteristics are generally not relevant, with the exception of economic insecurity. JEL Codes: R10, R58, I31

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The joy of lottery play: evidence from a field experiment

Cited by 40 publications

References 44 publications

Excited and aroused: The predictive importance of simple choice process metrics.

Excited and aroused: The predictive importance of simple choice process metrics.

How rational is gambling?

What makes cities happy? Factors contributing to life satisfaction in European cities

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