Because the jackpots in lotto games are potentially unlimited, it has been speculated that these lotteries may have a positive expected return for high jackpots. While most previous work has concluded that the lotto rarely presents a player with a positive expected return, this paper modifies...

La mayoría de juegos lotto son operados por monopolios estatales en todo el mundo como una fuente alternativa de ingresos. Así, los estudios sobre la demanda en este ámbito han tratado de evaluar si la elasticidad precio estimada es consistente con la maximización de los ingresos (netos de...

This article challenges claims that liberalising state regulated markets in developing countries may induce lasting economic development. The analysis of the rise of tourism in Egypt during the last three decades suggests that the effects of liberalisation and structural adjustment are...

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...