Advanced Search
MyIDEAS: Login

Banking on Gambling: Banks and Lottery-Linked Deposit Accounts

Contents:

Author Info

  • Mauro Guillén
  • Adrian Tschoegl

Abstract

Lottery-linked deposit accounts have proved to be popular around the world. From the point of view of a bank, these products are especially successful among relatively low-income customers, or in markets in which many people are outside the banking system. Below, we describe numerous examples of such accounts, and analyze their economics.

(This abstract was borrowed from another version of this item.)

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://hdl.handle.net/10.1023/A:1015081427038
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Springer in its journal Journal of Financial Services Research.

Volume (Year): 21 (2002)
Issue (Month): 3 (June)
Pages: 219-231

as in new window
Handle: RePEc:kap:jfsres:v:21:y:2002:i:3:p:219-231

Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=102934

Related research

Keywords: Randomized return; lottery; behavioral finance.;

Other versions of this item:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Ian Walker, 1998. "The economic analysis of lotteries," Economic Policy, CEPR & CES & MSH, vol. 13(27), pages 357-402, October.
  2. Green, Richard C & Rydqvist, Kristian, 1997. "The Valuation of Nonsystematic Risks and the Pricing of Swedish Lottery Bonds," Review of Financial Studies, Society for Financial Studies, vol. 10(2), pages 447-80.
  3. Smith, B.D. & Villamil, A.P., 1991. "Government Borrowing using Bonds with Randomly Determined Returns : Welfare Improving Randomization in the Context of Deficit Finance," RCER Working Papers 287, University of Rochester - Center for Economic Research (RCER).
  4. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
  5. Minabe, Shigeo, 1975. "A Time Deposit with Lottery Ticket," Public Finance = Finances publiques, , vol. 30(2), pages 222-30.
  6. Clotfelter, Charles T & Cook, Philip J, 1991. " Lotteries in the Real World," Journal of Risk and Uncertainty, Springer, vol. 4(3), pages 227-32, July.
  7. Shapira, Zur & Venezia, Itzhak, 1992. "Size and frequency of prizes as determinants of the demand for lotteries," Organizational Behavior and Human Decision Processes, Elsevier, vol. 52(2), pages 307-318, July.
  8. Quiggin, John, 1991. "On the Optimal Design of Lotteries," Economica, London School of Economics and Political Science, vol. 58(229), pages 1-16, February.
  9. Clotfelter, Charles T & Cook, Philip J, 1990. "On the Economics of State Lotteries," Journal of Economic Perspectives, American Economic Association, vol. 4(4), pages 105-19, Fall.
  10. Philip J. Cook & Charles T. Clotfelter, 1991. "The Peculiar Scale Economies of Lotto," NBER Working Papers 3766, National Bureau of Economic Research, Inc.
  11. Robson, Arthur J., 1996. "The Evolution of Attitudes to Risk: Lottery Tickets and Relative Wealth," Games and Economic Behavior, Elsevier, vol. 14(2), pages 190-207, June.
  12. Farrell, Lisa, et al, 2000. "The Demand for Lotto: The Role of Conscious Selection," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(2), pages 228-41, April.
  13. Aggarwal, Rajesh K & Yousef, Tarik, 2000. "Islamic Banks and Investment Financing," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(1), pages 93-120, February.
  14. Velde, François R. & Weir, David R., 1992. "The Financial Market and Government Debt Policy in France, 1746–1793," The Journal of Economic History, Cambridge University Press, vol. 52(01), pages 1-39, March.
  15. Ng Yew Kwang, 1965. "Why do People Buy Lottery Tickets? Choices Involving Risk and the Indivisibility of Expenditure," Journal of Political Economy, University of Chicago Press, vol. 73, pages 530.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Melissa Schettini Kearney & Peter Tufano & Jonathan Guryan & Erik Hurst, 2010. "Making Savers Winners: An Overview of Prize-Linked Savings Products," NBER Working Papers 16433, National Bureau of Economic Research, Inc.
  2. Marie Pfiffelmann, 2006. "Which Optimal Design For LLDAs?," Working Papers of LaRGE Research Center 2006-06, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg (France).
  3. Marie Pfiffelmann, 2007. "Which optimal design for lottery linked deposit," DULBEA Working Papers 07-09.RS, ULB -- Universite Libre de Bruxelles.
  4. Tufano, Peter & De Neve, Jan-Emmanuel & Maynard, Nick, 2011. "U.S. consumer demand for prize-linked savings: New evidence on a new product," Economics Letters, Elsevier, vol. 111(2), pages 116-118, May.
  5. Marie Pfiffelmann, 2007. "Which Optimal Design for Lottery Linked Deposit Accounts?," Working Papers CEB 07-010.RS, ULB -- Universite Libre de Bruxelles.
  6. Olga Bourachnikova, 2007. "Weighting Function in the Behavioral Portfolio Theory," Working Papers CEB 07-011.RS, ULB -- Universite Libre de Bruxelles.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:kap:jfsres:v:21:y:2002:i:3:p:219-231. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.