Chasing rainbows: On the relationship between lottery tickets and common stocks

This paper analyses the relationship between lottery tickets and common stocks using cross sectional household data for the U.K. and Germany. In contrast to a previous empirical finding that predicts a complementary effect and nonexpected utility models that predict a substitutional effect, we find that lottery tickets purchases and stock market investments are independent.

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Year of publication:	2012
Authors:	Johansen, Kathrin ; Singer, Nico
Institutions:	Institut für Volkswirtschaftlehre, Universität Rostock

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Extent:	application/pdf
Series:	Thuenen-Series of Applied Economic Theory.
Type of publication:	Book / Working Paper
Notes:	Number 129
Classification:	G11 - Portfolio Choice ; D12 - Consumer Economics: Empirical Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010958238