Relationships between Gambling Behavior, Subjective Probability, Prize Structure of Sweepstakes and Willingness to Purchase: An Experimental Study

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Kantarat Paripremkul
Arnond Sakwarawich

Abstract

This completely randomized design (CRD) experimental research aims at investigating the effect of sweepstakes structure promotion on willingness to purchase where gambling behavior and subjective probability are covariates. Four types of sweepstakes structures are 1) grand prize only, 2) grand prize and many small prizes, 3) multiple large prizes, and 4) multiple large prizes and many small prizes where price discount with equal expected value as a control group. Five-hundred participants were randomly assigned to each condition. The results found that the multiple large prizes and many small prizes sweepstakes structure leads to highest willingness to purchase (47.1%). Education, monthly income and the interaction between sweepstakes


structures and gambling behavior are related to willingness to purchase such that low income participants with high gambling behavior tend to participate in sweepstake.

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How to Cite
Paripremkul, K., & Sakwarawich, A. (2020). Relationships between Gambling Behavior, Subjective Probability, Prize Structure of Sweepstakes and Willingness to Purchase: An Experimental Study. WMS Journal of Management, 9(2), 16-28. Retrieved from https://so06.tci-thaijo.org/index.php/wms/article/view/241851
Section
Research Articles-Academic Articles
Author Biographies

Kantarat Paripremkul

Graduate School of Applied Statistics, National Institute of Development Administration (NIDA), 118 Moo 3, Seri Thai Road, Klonngchan, Bangkapi, Bangkok 10240 Thailand

Arnond Sakwarawich

Graduate School of Applied Statistics, National Institute of Development Administration (NIDA), 118 Moo 3, Seri Thai Road, Klonngchan, Bangkapi, Bangkok 10240 Thailand

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