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All content in this area was uploaded by Juliane Zenker on Dec 22, 2017
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c d e
23 −50 = −27
p
ψ
ψ
ψ50.99p0.99p < ψ <
1.01pψ=1.01p
ψ p
(1 −)p < ψ < (1 + )p
= 0.01 = 0.05 = 0.2
=.01
R2
N
p∗0.99 < ψ < p ∗1.01
=
R2
N
√0.84 ≈0.92
u(c)=(cα)/α 1−α α ≤1
α6= 0 π p
y w
pu(y+π) + (1 −p)u(y) = u(y+w)
w=y·h(1 −p+p(1 + π/y)α)1/α −1i.
α= 1 w=pπ
w α
y= 30,000 p= 7 ×10−6
π= 106
w= 7 w= 2.041 w= 0.2014 α= 1 α= 0.5
α=−1p= 10−6
α w = 1 w= 0.291 w= 0.029
7 : 1 w
p p y
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>1<1b
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ψ ψ
ψ50.95p0.95p < ψ <
1.05pψ=1.05p ψ 50.80p0.80p < ψ <
1.20pψ=1.20p
=.2
R2
N
p∗0.99 < ψ < p ∗1.01
=
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N
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p∗0.99 < ψ < p ∗1.01
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p∗0.99 < ψ < p ∗1.01
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0.02 .04 .06 .08
050 100 050 100
Control Group Treatment Group
Density
Lottery Ticket Reservation Price
Graphs by Lottery Treatment Variable
