• Journal of Families and Better Life
• /
• v.28 no.3
• /
• pp.113-127
• /
• 2010

This study explores the factors that affect the lottery purchasing intentions of university students. Self-administered questionnaires were completed by 504 students attending four universities in Kwangju South Korea. The conclusions are as follows: First, approximately 43% of respondents participated in at least one lottery purchase and the frequency of lottery purchases during the last 12 months was 4.84. Gender issues were considered since almost twice as many males reported lottery purchases. Second, males were affected by attitudes toward lotteries; females were affected by past behavior, subjective norms, and attitudes toward lotteries. It was hypothesized that the attitudinal message would change behavior for male students while the accurate information and the normative message would also be effective for female students. The fact that just about half of the respondents have previously participated in gambling vis-$\grave{a}$-vis lotteries shows consumer educators that lottery purchases by youth is a social policy issue in need of systematic and scientific attention.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.19 no.38
• /
• pp.181-188
• /
• 1996

In the descriptive studies investigating people's risk taking behavior, the most used experimental technique has been the simple lotteries which consist of only no possible outcomes. However, these simple lotteries cannot always be an appropriate representation of the real world decision-making situations, where three or more possible outcomes are frequently encountered. The purpose of the present study is to investigate people's risk attitude in various multi-branch lottery games.

• Journal of Digital Convergence
• /
• v.15 no.11
• /
• pp.107-112
• /
• 2017

This paper performed an experimental study to test the validity of the prospect theory proposed by Tversky and Kahneman as an alternative to the expected utility theory. 115 college students attended the hypothetical games to choose one of two lotteries, one is safe option while the other one is risky. The risky options were set up to have low, medium or high probability of payoffs or losses. The amount of payoffs and losses of the lotteries was either large or small. Maximum likelihood estimation of the hypothetical games have shown that in case of high probability of positive payoffs the respondents were risk averse and when the probability of positive payoffs were small the respondents were risk loving. when the possibility of loss is high they were risk loving, while the probability is of loss is low the respondents were found to be risk averse. When the probability of risky options were medium the results were significant statistically in case of only losses. The amount of positive payoff or losses does not affect the results. Overall the results of this experiments support the prospect theory more than those of Laury & Holts (2008).

• Journal of Korean Institute of Industrial Engineers
• /
• v.25 no.4
• /
• pp.437-447
• /
• 1999

Previous researches on risk attitudes or on the typical utility functions have mostly focused on how the risk attitude of decision maker varies when changes are made in one or two lottery reference points such as consequence domain and magnitude of probability under assumed risk situations represented by simple lotteries. It is, however, very difficult to forecast dominant risk attitudes under risk situations which exhibit a complex combination of many reference points. In this study, twelve risk situations which a decision maker may confront in real decision-making situations were formulated by combining in various ways three reference points, that is, magnitude of probability, consequence domain, and magnitude of gain or loss. Then through a questionnaire dominant risk attitudes under every assumed risk situation were investigated, and the general shape of utility function implied by the experimental results were derived. Results of the present study show that none of the three reference points have dominant effect over the others due to complicated interaction between them, and given the twelve risk situations the observed risk attitude widely varies from strong risk taking to strong risk aversion.

• Journal of Korean Library and Information Science Society
• /
• v.30 no.1
• /
• pp.193-217
• /
• 1999

This study is intended to find out the possible ways for the expansion of Library Finance. With this necessity, it is indicated three sources, such as governmental. fund from other endowments, public donation, which is stated as the subsidy sources in the 'Library Law', and issuing lotteries as well. Firstly, it is suggested collecting governmental funds, included in budget sheet every year, to the amount of a ten billion won. Secondly, it is indicated the ways to collect funds to the amount of a five billion won respectively from other endowments, such as Korea Raising Association Fund under the jurisdiction of the Minister of Culture and Tourism, Information Promotion Fund, on the basis of statistical data, materials of inspection of the administration, and materials released by the government. Third device is to collect funds over a five billion won every year through public donation and lottery. This study is indicated that three devices to raise the library fund for the expansion of Library Finance to the amount of a hundred and twenty billion won in total as mentioned above.

• Korean Business Review
• /
• v.23 no.2
• /
• pp.31-52
• /
• 2010

The casinos and gaming sector consists of all forms of betting, including commercial, state-run, and charitable operations. The casinos segment comprises gambling in casinos, and includes gaming machine gambling where this occurs on casino premises. The gaming segment covers all other forms of gambling, including national and other lotteries, racing and sports betting, bingo, pachinko, and gaming machines where these are not located on casino premises. All values are stated in terms of gross gaming win. This is the total amount waged by customers minus the total amount paid out to customers as winnings, but before the payment of any applicable taxes, disbursements to charitable or other causes by games established for those purposes, or other expenses. The South American casinos & gaming sector posted strong growth in 2009 and this growth is expected to accelerate during the forecast period. The South American casinos & gaming sector generated total revenues of $9.6 billion in 2009, representing a compound annual growth rate(CAGR) of 15% for the period spanning 2005-2009. In comparison, the Argentinian and Chilian sectors grew with CAGRs of 17% and 21.9% respectively, over the same period, to reach respective values of $2.2 billion and $93.7 million in 2009. The other gaming segment was the sector's most lucrative in 2009, generating total revenues of $7.1billion, equivalent to 74.1% of the sector's overall value. The casino segment contributed revenues of $2.5billion in 2009, equating to 25.9% of the sector's aggregate revenues. The performance of the sector is forecast to accelerate, with an anticipated CAGR of 20.4% for the five year period 2009-2014, which is expected to drive the sector to a value of $24.3 billion by the end of 2014. Comparatively, the Argentinian and Chilian sectors will grow with CAGRs of 10.2% and 7.3% respectively, over the same period, to reach respective values of $3.6 billion and $133.6 million in 2014.