psychology

May 19th, 2015
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Boston Graduate School of Psychoanalysis Inc
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psychology............. .....................................................................................................................................

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Psychology, Lottery Marketing, and RegulationMarketing is, fundamentally, an effort to change the way a person feels about a product and engender a desire to change ones purchasing patterns. Commercials play on our psychological desire to be cool, to fit in, or to feel good about ourselves. Anyone who has seen the Malboro Man straddling a horse and smoking a cigarette, or a bunch of attractive men and scantily clad women frolicking in the mountains drinking beer, can understand the popular association of coolness and fun with these activities. That is, until you recall the image of your friend vomiting at a party or constantly reeking of smoke. The marketing of games of chance, such as lotteries and casino games, is very similar. It often focuses on psychological tendencies and weakness as well as misconceptions, such as the possibility of rising from ones current socio-economic state, internal and external loci of control, and counterfactual thinking, to attract customers to their business. From an economists standpoint, the choice to gamble has historically been somewhat disconcerting. According to standard theory, people will almost always choose to pay a premium, like insurance, to eliminate uncertain future outcomes. Yet gamblers regularly seek out opportunities to participate in gambles where the odds are overwhelmingly against them. In his May 1981 paper in the Quarterly Journal of Economics, Bruck [1] evaluates a modified utility curv

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