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In Search of a Fair Bet in the Lottery
Matheson, Victor; Grote, Kent R. - Economics Department, Williams College - 2003
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/10008679073
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Mega-Sporting Events in Developing Nations : Playing the Way to Prosperity?
Matheson, Victor; Baade, Robert A. - Economics Department, Williams College - 2003
Supporters of mega-sporting events such as the World Cup and Olympics claim that these events attract hoards of wealthy visitors and lead to lasting economic benefits for the host regions. For this reason, cities and countries compete vigorously for the right to stage these spectacles. Recently,...
Persistent link: https://www.econbiz.de/10008679096
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The Economics of Lotteries: A Survey of the Literature
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2011
, cross-price elasticities of lottery ticket to each other and to other gambling products, consumer rationality and gambling …
Persistent link: https://www.econbiz.de/10009279920
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The Economics of Lotteries: An Annotated Bibliography
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2011
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
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Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2013
growth in the gambling industry in the United States with particular attention paid to sports gambling. …
Persistent link: https://www.econbiz.de/10010661505
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The Impact of State Lotteries and Casinos on State Bankruptcy Filings
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2013
Over the past half century, there has been an increasing prevalence of legalized gambling in the US. At the same time … products tends to be regressive in nature. In addition, gambling addiction is a widely acknowledged social problem. This raises …
Persistent link: https://www.econbiz.de/10010616801
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Examining the Halo Effect in Lotto Games
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2005
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
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Gamblers’ Love for Variety and Substitution among Lotto Games
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2006
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
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U.S. Lotto Markets
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2008
and gambling in an often controversial mix. Proponents of lotteries point to the popularity of such games and justify …
Persistent link: https://www.econbiz.de/10005004174
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Booms, Busts, and Gambling: Can Gaming Revenues Reduce Budget Volatility?
Humphreys, Brad; Matheson, Victor - Department of Economics and Accounting, College of the … - 2010
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 government revenues because consumers are relatively insensitive to the implicit “tax …
Persistent link: https://www.econbiz.de/10008560002