Economics of ‘ Jackpot ’ Business Administration Han, Hyung-ki.

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Presentation transcript:

Economics of ‘ Jackpot ’ Business Administration Han, Hyung-ki

光 Gambling!!! Gambling = to play risky games of chance for money or some other stake Gambling is stupid donkey ’ s game??? Gambling is irrational???

Axel Rubner said … Why do we enjoy gambling? 1. Uncertain game = More thrill 2. Increase entertainment 3. Pleasure for the poor 4. Psychological satisfaction 5. Making money!!!-_-;;;

St. Petersburg Lottery Expected value = Infinite Then, we can pour our money for ‘ Jackpot ’. risk-loving( 위험선호적 ) people, risk- averse( 위험회피적 ) people, and risk- neutral( 위험중립적 ) people

What is our duty? Boys! Be ambitious! Be a rational economic man!

Reference 유시민의 경제학 카페