Uitlity theory and participation in unfair lotteries

dc.contributor.author	Patel, Nitin R.
dc.contributor.author	Subrahmanyam, Marti G.
dc.date.accessioned	2010-03-13T07:34:30Z
dc.date.available	2010-03-13T07:34:30Z
dc.date.copyright	1977-12
dc.date.issued	2010-03-13T07:34:30Z
dc.identifier.uri	http://hdl.handle.net/11718/971
dc.description.abstract	This paper provides an alternative explanation for the observed behaviour of individuals, that is consistent with consumer choice theory. The basic hypothesis is that there are certain commodities, mainly luxuries, which are available only in integer amounts. Further the price of even a single unit of these commoties is large in relation to an individual's budget constraint, with the result that consumption of these commodities implies sacrifice of consumption of other more basic commodities.	en
dc.language.iso	en	en
dc.relation.ispartofseries	WP;1977/186
dc.subject	Lotteries	en
dc.subject	Utility theory	en
dc.title	Uitlity theory and participation in unfair lotteries	en
dc.type	Working Paper	en