26/07/2008

Why do the poor buy more lottery tickets than the rich?

A Carnegie Mellon University study addressed this question. Unsurprisingly, they deduced that it is poverty that pushed the poor to buy more lottery tickets in the hope of escaping their poverty.

"Some poor people see playing the
lottery as their best opportunity for improving their financial
situations, albeit wrongly so," said the study's co-author Emily
Haisley, doctoral student at Carnegie Mellon's Tepper School of
Business.

"The hope of getting out of poverty encourages people to continue to buy tickets,
even though their chances of stumbling upon a life-changing windfall
are nearly impossibly slim and buying lottery tickets in fact
exacerbates the very poverty that purchasers are hoping to escape."

Zemanta Pixie