Why play a losing game? Study uncovers why low-income people buy lottery tickets
Thursday, July 24, 2008 - 11:49
in Psychology & Sociology
Although state lotteries, on average, return just 53 cents for every dollar spent on a ticket, people continue to pour money into them — especially low-income people, who spend a larger percentage of their incomes on lottery tickets than do the wealthier segments of society. A new Carnegie Mellon University study sheds light on the reasons why low-income lottery players eagerly invest in a product that provides poor returns. read more