Setting national lottery prizes is a job I would like. Do you prefer one big whopping winner, a few reasonably sized wins or lots of smaller, but still sizeable winners? I notice someone won 43 million GBP last week. Very nice, but what about everyone else?
Does it really make you buy more tickets if there's a big prize to be won? Most (all) lotteries seem to think this is the way to go, but seems to be based on research rather than experiment. I think they should change the prize allocations every now and again to determine the best outcomes. By 'best outcomes' I mean the number of tickets purchased. Personally, I think the best option would be for one larger 'life changing amount' (a debate in itself probably) plus a large number of 'reasonable to low' winners.
In the UK, they set the 'life changing amount' high in case Richard Branson or similar wins it.
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