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Lotteries represent an important source of government revenues in many states and countries, so they are of interest to public finance economists. In addition, lotteries provide researchers interested in microeconomic theory and consumer behavior with a type of experimental lab that allows...
Persistent link: https://www.econbiz.de/10009279920
This paper presents an annotated bibliography of all papers relating to the economics of lotteries as of early to mid 2011. All published scholarly papers that could be identified by the authors are included along with the published abstract where available.
Persistent link: https://www.econbiz.de/10009279923
State lotteries currently operate in 43 states across the US. Recently, three states have privatized their lottery operations, handing over the management of their lotteries to private companies in hopes of generating greater revenues for the state governments. Questions arise regarding the...
Persistent link: https://www.econbiz.de/10010661505
Over the past half century, there has been an increasing prevalence of legalized gambling in the US. At the same time there is a general recognition, empirically supported in the economics literature, that spending on lottery and gaming products tends to be regressive in nature. In addition,...
Persistent link: https://www.econbiz.de/10010616801
The "Halo Effect" occurs when lotto ticket sales are unexpectedly high following a large jackpot. An examination of the Powerball lottery finds evidence that the halo effect exists and that it is the result of bettors exchanging prize winnings for new tickets.
Persistent link: https://www.econbiz.de/10005526876
This paper considers the whether offering multiple lotto games within a state by joining a multi-state lottery increases total ticket sales compared to offering a single state game. The question is considered from two different perspectives, which both lead to the conclusion that states do tend...
Persistent link: https://www.econbiz.de/10005004169
Lotteries as sources of public funding are of particular interest because they combine elements of both public finance and gambling in an often controversial mix. Proponents of lotteries point to the popularity of such games and justify their use because of the voluntary nature of participation...
Persistent link: https://www.econbiz.de/10005004174
Over the past 20 years, state and provincial governments in North America have expanded legal gambling opportunities to consumers. One of the primary policy goals of this expansion of gambling opportunities has been to increase government revenues. Gambling is an attractive source of new...
Persistent link: https://www.econbiz.de/10008560002
This paper considers the relationship that exists between two lottery products offered simultaneously in the same state, a smaller lottery game run by the individual state and a larger multi-state game run in coordination with other states. The primary issue is whether the two different products...
Persistent link: https://www.econbiz.de/10005545415
Although state-operated lotto games have the worst average expected payoffs among common games of chance, because the jackpot can accumulate, the maximum expected payoff is potentially unlimited. It is possible, therefore, that lotto can exhibit a positive expected return. This paper examines...
Persistent link: https://www.econbiz.de/10005545434