<abstract xmlns="http://www.w3.org/1999/xhtml">
<p>This study presents an econophysics based approach to the study of lotteries. By treating lotteries as complex systems we analyse the guiding dynamics of real-world lotteries. We found that the growth of the jackpot, that can be won, between two successive draws is proportional to its preceding value. This growth is best described as a linear function with two parameters a and b reflecting foundational player pool sales and the excitement generated by the current jackpot respectively. A computer simulation considering additional parameters (such as the price of a ticket: s, and the format of the lottery: p) is used to study the statistical features of simulated lotteries covering a vast parameter space. This approach enables us to construct a detailed map of how various parameters influence lottery behaviour by examining the statistical characteristics of the simulated lotteries. The findings emphasize the need for thoughtful pricing strategies in real-world lotteries and suggest that simulations can assist organizers in making informed decisions.</p>
</abstract>

This study presents an econophysics based approach to the study of lotteries. By treating lotteries as complex systems we analyse the guiding dynamics of real-world lotteries. We found that the growth of the jackpot, that can be won, between two successive draws is proportional to its preceding value. This growth is best described as a linear function with two parameters a and b reflecting foundational player pool sales and the excitement generated by the current jackpot respectively. A computer simulation considering additional parameters (such as the price of a ticket: s, and the format of the lottery: p) is used to study the statistical features of simulated lotteries covering a vast parameter space. This approach enables us to construct a detailed map of how various parameters influence lottery behaviour by examining the statistical characteristics of the simulated lotteries. The findings emphasize the need for thoughtful pricing strategies in real-world lotteries and suggest that simulations can assist organizers in making informed decisions.

Mapping the Parameter Space of Simulated Lotteries

Journal of Social and Economic Statistics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"Mapping the Parameter Space of Simulated Lotteries"}

This study presents an econophysics based approach to the study of lotteries. By treating lotteries as complex systems we analyse the guiding dynamics of...

Mapping the Parameter Space of Simulated Lotteries

Published Online: Feb 02, 2024

Page range: 38 - 52

DOI: https://doi.org/10.2478/jses-2023-0008

Keywords
econophysics, lottery simulations, computer simulations, complex systems, lottery jackpot dynamics

© 2023 István Gere, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Mapping the Parameter Space of Simulated Lotteries

Published Online: Feb 02, 2024

Page range: 38 - 52

DOI: https://doi.org/10.2478/jses-2023-0008

Keywordseconophysics, lottery simulations, computer simulations, complex systems, lottery jackpot dynamics

© 2023 István Gere, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
econophysics, lottery simulations, computer simulations, complex systems, lottery jackpot dynamics