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Geoff muses on the combination of two of his favorite topics: loss aversion and the lottery. Why do more people buy lottery tickets when the odds of winning are lower? How does that affect the payout? And what is the effect of a lottery win on a person's life?
By Erica Hayes-Bouyouris, Sen-Foong Lim4.8
343343 ratings
Geoff muses on the combination of two of his favorite topics: loss aversion and the lottery. Why do more people buy lottery tickets when the odds of winning are lower? How does that affect the payout? And what is the effect of a lottery win on a person's life?

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