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dc.contributor.advisorOxoby, Robert
dc.contributor.authorLaughren, Kevin
dc.date.accessioned2013-08-27T21:07:53Z
dc.date.available2013-11-12T08:00:15Z
dc.date.issued2013-08-27
dc.date.submitted2013en
dc.identifier.citationLaughren, K. (2013). Banking on lottery tickets: A behavioural study of prize-linked savings (Unpublished master's thesis). University of Calgary, Calgary, AB. doi:10.11575/PRISM/25094en_US
dc.identifier.urihttp://hdl.handle.net/11023/895
dc.description.abstractResearch has identified lower income Canadians who could improve their welfare if availed consumption smoothing through income rationing or savings. Likely, some such individuals struggle to save because their preferences are not well represented by expected utility theory, including those exhibiting hyperbolic discounting. Prize-linked savings (PLS) programs like Britain’s Premium Bond offer principal protection with the chance of winning monetary prizes. They have demonstrated success in creating new savers, but Canadian versions are only sparsely available through NGOs. I test individual risk preferences in a portfolio building laboratory experiment, and find individuals primed to perceive their income as low take significantly more risk. Further, these individuals significantly reduce risk when presented a PLS option. I posit this behaviour can be explained by social preferences like the inequity aversion described by Fehr and Schmidt (1999), and find their model significantly outperforms the classical model in predicting behaviour in this experiment.en_US
dc.language.isoeng
dc.rightsUniversity of Calgary graduate students retain copyright ownership and moral rights for their thesis. You may use this material in any way that is permitted by the Copyright Act or through licensing that has been assigned to the document. For uses that are not allowable under copyright legislation or licensing, you are required to seek permission.
dc.subjectGeneral
dc.subject.classificationEconomicsen_US
dc.titleBanking on lottery tickets: A behavioural study of prize-linked savings
dc.typemaster thesis
dc.publisher.facultyGraduate Studies
dc.publisher.institutionUniversity of Calgaryen
dc.identifier.doihttp://dx.doi.org/10.11575/PRISM/25094
thesis.degree.nameMaster of Arts
thesis.degree.nameMA
thesis.degree.disciplineEconomics
thesis.degree.grantorUniversity of Calgary
atmire.migration.oldid1248
dc.publisher.placeCalgaryen
ucalgary.item.requestcopytrue


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University of Calgary graduate students retain copyright ownership and moral rights for their thesis. You may use this material in any way that is permitted by the Copyright Act or through licensing that has been assigned to the document. For uses that are not allowable under copyright legislation or licensing, you are required to seek permission.