Management Papers

Document Type

Journal Article

Date of this Version

2002

Publication Source

Journal of Financial Services Research

Volume

21

Issue

3

Start Page

219

Last Page

231

DOI

10.1023/A:1015081427038

Abstract

Deposit accounts that provide an interest return determined by a lottery have proved to be popular around the world. From the point of view of a bank, these products are especially successful among relatively low-income customers, or in markets in which many people are outside the banking system. Below, we describe numerous examples of such accounts, and analyze their economics.

Keywords

randomized return, lottery, behavioral finance

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Date Posted: 27 November 2017

This document has been peer reviewed.