Risk, price and pay-off: A study explaining wagering and gambling behaviour using prevalent lottery models with an application of two stage least square regression

Date of Publication

2003

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Applied Economics

Subject Categories

Economics

College

Ramon V. Del Rosario College of Business

Department/Unit

Economics

Thesis Adviser

Gerardo Largoza

Defense Panel Member



Joel Tanchuco
Mitzie Ponce

Abstract/Summary

The study explains behavior in an uncertainty environment. As gambling is perceived by many to be an act violating the basic principles of individual rationality, the determining factors that contribute to a gambler's decision to wager a bet, and at the same time the reasons for such, contribute to the interest in the said field of study.

The study adopts the most popular lottery model--the Effective Price Model, as well a proposed alternative to such--the Jackpot Prize Model, applied in the United Kingdom as its working model. The integrities and applicability of the said models are tested in the Philippine setting in the duration of this study. Furthermore, this study applies a two-stage regression process using lotto 6/45 data taken from the Philippine Charity Sweepstakes Office (PCSO) to run the two models."

Abstract Format

html

Language

English

Format

Print

Accession Number

TU12924

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

iii, 82, [70] leaves :ill. ; 28 cm.

Keywords

Gambling; Lotteries

This document is currently not available here.

Share

COinS