In the News
Testing an Economic Theory - Are Lottery Ticket Buyers Rational
Geoff Riley
4th April 2018
A great short video to show in the classroom on the supposed rationality of lottery ticket buyers! The team at Business Insider tested an economic theory by trying to buy people's Powerball tickets for much more than they paid.
Which behavioural biases are evident here?
- Economics
- Blog
- In the News
- Behavioural Economics
- Homo Economicus
- Bounded rationality
- Cognitive Bias
- Irrational Behaviour
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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