BillBrasky
Mouseketeer
- Joined
- Jan 5, 2011
- Messages
- 334
I understand math so I'm not playing, but it's really funny to think about. I don't quite get the motivation that gets exponentially more people to buy when the jackpot gets above $400 million, or in this case, $1 billion. I know playing the lottery in any condition is economically irrational, but this extra bit of irrationality is really weird. Economic theory proves in most cases that marginal utility decreases as a payout increases. Yet the reverse seems to happen here. What I mean is, how is $1.3 billion than much more of a motivator than say $200 million? Especially when the investment is still just $2. So many people who couldn't be bothered to try to win $200 million, are all over it now that it's over $1 billion... but what's the difference? When I picture living with the $1.3 billion I imagine having all the things you'd normally think of buying with a lottery win, plus owning a private jet, fully staffed, constantly on call and fueled up. I think that cost, plus the associated opulence I'd be indulging in everywhere I went, would be the most efficient way to blow threw tons of cash. But I think I could still do that with the puny $200 million too, right? Add in the fact that some people express concerns that it's actually "too much" money, and the even greater watering down of your chances due to the media blitz, and it just seems even crazier.