Number preferences in lotteries

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Wang, Tong V., Potter van Loon, Rogjer J.D., van den Assem, Martijn J. and van Dolder, Dennie (2016) Number preferences in lotteries. Judgment and Decision Making, 11 (3). pp. 243-259. ISSN 1930-2975

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Abstract

We explore people's preferences for numbers in large proprietary data sets from two different lottery games. We find that choice is far from uniform, and exhibits some familiar and some new tendencies and biases. Players favor personally meaningful and situationally available numbers, and are attracted towards numbers in the center of the choice form. Frequent players avoid winning numbers from recent draws, whereas infrequent players chase these. Combinations of numbers are formed with an eye for aesthetics, and players tend to spread their numbers relatively evenly across the possible range.

Item Type: Article
RIS ID: https://nottingham-repository.worktribe.com/output/787889
Keywords: Lotteries, Gambling, Number preference, Colour preference, Implicit egotism, Availability, Position effect, Law of small numbers, Representativeness, Gambler’s fallacy, Hot-hand fallacy
Schools/Departments: University of Nottingham, UK > Faculty of Social Sciences > School of Economics
Depositing User: Van Dolder, Dennie
Date Deposited: 01 Jun 2016 08:40
Last Modified: 04 May 2020 17:49
URI: https://eprints.nottingham.ac.uk/id/eprint/33676

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