lottery

Definitions

General English

  • noun a game of chance in which tickets with numbers on are sold with prizes given for certain numbers

Health Economics

  • (written as Lottery)
    In health economics, this usually refers to a choice in which the pay-off is uncertain (not necessarily one in which the chances of a good outcome are extremely small). The standard gamble is a form of lottery used to elicit experimentally the value individuals attach to various states of health.
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