Research in neuropsychology shows that individuals process small and large numbers differently. Small numbers are processed on a linear scale, while large numbers are processed on a logarithmic scale. In this paper, we show that financial analysts process small prices and large prices...

The definition of co-operative banks given by the International Cooperative Banking Association (ICBA) states that co-operative members, who buy and hold member shares, believe in the ethical values of honesty, openness, social responsibility and caring for others. Using a unique database of...

In a recent paper entitled ldquo;Putting Risk in its Proper Placerdquo;, Eeckhoudt and Schlesinger (2006) established a theorem linking the sign of the n-th derivative of an agent's utility function to her preferences among pairs of simple lotteries. We characterize these lotteries and show...

The success of a lottery product is essentially linked to the design of the game, that is the structure of prizes offered to players, and the competitive universe of betting markets in which it is embedded. In this paper, we analyze the quot;deathquot; of the French 6/49 lotto in October 2008...

We analyze the demand of the Euromillions lottery tickets, a European lotto-like game launched in 2004 and played simultaneously in nine countries with the same rules and the same draws. Using the effective price methodology, we show that price elasticities are very different across countries....

In a recent paper, Louis Eeckhoudt and Harris Schlesinger [1] established a theorem linking the sign of the n-th derivative of an agent's utility function to her preferences among pairs of simple lotteries. In this paper, we characterize these lotteries and show that they only differ by their...