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Gaming in Malaysia come
in many formats and operated by few companies. The prize can be fixed cash or goods. In this format
there is risk to the organizer if insufficient tickets are sold. The
prize can be a fixed percentage of the receipts. The fact that lotteries
are commonly played leads to some contradictions against standard models
of economic rationality. However, the expectations of some players may
not be to win the game, but to experience the thrill and indulge in a
fantasy of possibly becoming wealthy.
Even ignoring the thrill
factor, there is the theoretical possibility that the purchase of a
lottery ticket could represent a gain in expected utility, even though
it represents a loss in expected monetary value, thus making the
purchase a rational decision. Many recent lotteries allow purchasers to
select the numbers on the lottery ticket resulting in the possibility of
multiple winners.
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