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Are the invdividuals who buy Triss rational by doing it?
Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
2019 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

This essay analyses the extent to which individuals who bought Triss in Värnamo at Hemköp are rational in their decision to buy Triss. The expected value was found to be lower than the price of the Triss ticket. The results from the experiment suggests the individuals act irrationally as they did not accept to exchange their Triss for another Triss and an additional Mini Triss. The data from the observation suggests that individuals with a winning Triss tend to exchange it for a new Triss when the amount won is relatively small. When the amount won was relatively larger, the more likely the individuals were to claim the money. When a jackpot Triss was sold in the store, there was no significant increase of sales of Triss in the store, hence the individuals in the store did act rational in the sense they did not buy more or less Triss because of the jackpot was sold in the store. The results found in this paper suggest that individuals who buy Triss acts with a bounded rationality since their decision of buying Triss are driven by emotions, poor understanding of probabilities and risk under uncertainties.

Place, publisher, year, edition, pages
2019. , p. 31
Keywords [en]
Scratch-card, Triss, Rationality, Gambling, Lottery
National Category
Economics
Identifiers
URN: urn:nbn:se:lnu:diva-85424OAI: oai:DiVA.org:lnu-85424DiVA, id: diva2:1325533
Educational program
The Economics Programme, 180 credits
Presentation
2019-06-10, Växjö, 16:50 (English)
Supervisors
Examiners
Available from: 2019-06-18 Created: 2019-06-16 Last updated: 2019-06-18Bibliographically approved

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File name FULLTEXT01.pdfFile size 408 kBChecksum SHA-512
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Type fulltextMimetype application/pdf

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf