| Why people buy lottery tickets has long been argued over by economists. A minority will make any return on lottery games and the chances of winning the big jackpot are infinitesimally small. More recent economic theories give fascinating insights into why people play, attracted by the very remote possibility of winning a life-saving sum. When you see a family in north Co Dublin win €175 million, the possibility of winning, however unlikely, is underlined. And this, economists believe, helps people to give undue weight in their decision making to the tiny chance of winning big. Let's block ads! (Why?)
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