Previous studies have found that lottery ticket sales are influenced by certain socioeconomic characteristics of the population. The authors extend the state lottery literature by examining how lottery game characteristics, such as the overall expected value, the top prize, and the total number...

We apply spatial econometric techniques to models of state and local fiscal policy convergence. Our work extends the work of Scully and Annala in much the same way that Rey and Montouri extended the literature on income convergence among U.S. states. Our results indicate that most fiscal...

This article examines the distributional burden of different price-point instant lottery games. Theoretical reasons exist for expecting higher-priced instant lottery games to be less regressive than lower-priced instant games. Using county-level data on sales by price point for six states, the...

The effect of income on lottery expenditures has generally been studied using an aggregate measure of income, usually personal income. Reasons exist for thinking that lottery expenditures do not respond equally to all sources of income. This article examines lottery consumption and income from...

In the former international trade organization, GATT, there were 28 countries who were free riders through a special class of de facto membership. This article distinguishes between two classes of free riders, true and induced, depending on whether the free riders, if faced with exclusion, would...

Pecuniary externalities create third-party effects through changes in relative prices or asset prices. Unlike technological externalities, they do not misallocate resources and are necessary for the market to work efficiently. However, the political process does not differentiate pecuniary from...