Lotto demand modeling typically focuses on a single game and evaluates whether estimated “effective price” (expected loss from buying one ticket) elasticity is consistent with net revenue maximization. However, a portfolio of several different lottery games is now usually offered to players...

A growing body of research examines the effect of loss aversion (LA) on consumers' decisions to watch or attend sporting events. Much of this research focuses on live game attendance. In contrast to the predictions of uncertainty of outcome hypothesis (UOH), loss-averse consumers prefer watching...