Lottery Traders

23 Pages Posted: 29 Jul 2001

See all articles by Meir Statman

Meir Statman

Santa Clara University - Department of Finance

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The behavior of stock traders and lottery buyers teaches us about our common aspirations, thoughts and emotions. That behavior also helps us answer the many questions of finance such as the construction of portfolios and the nature of equity premium.

Keywords: Gambling, lotteries, Behavioral Finance, Trading, Cognitive Biases, Emotions, Aspirations

JEL Classification: G, G14

Suggested Citation

Statman, Meir, Lottery Traders. Available at SSRN: or

Meir Statman (Contact Author)

Santa Clara University - Department of Finance ( email )

500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4147 (Phone)
408-554-4029 (Fax)

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