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Elasticity of Demand for UK National Lottery Tickets

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  • Forrest, David
  • Gulley, O. David
  • Simmons, Robert

Abstract

This paper examines sales patterns in the first three years of the UK National Lottery in order to estimate price elasticity of demand. Our long-run estimate is very close to the value of minus one required for revenue maximization. We find that the UK Government has succeeded in setting a framework for the National Lottery that maximizes turnover and therefore the amount of money available for both Exchequer revenue and "Good Causes."

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Bibliographic Info

Article provided by National Tax Association in its journal National Tax Journal.

Volume (Year): 53 (2000)
Issue (Month): n. 4 (December Citation: 53 National Tax Journal 853-64 (December 2000))
Pages: 853-64

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Handle: RePEc:ntj:journl:v:53:y:2000:i:n._4:p:853-64

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References

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  1. David Forrest & O. David Gulley & Robert Simmons, 2000. "Testing for rational expectations in the UK National Lottery," Applied Economics, Taylor & Francis Journals, vol. 32(3), pages 315-326.
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Cited by:
  1. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2003. "Taxation and the Demand for Gambling: New Evidence from the United Kingdom," Rensselaer Working Papers in Economics 0306, Rensselaer Polytechnic Institute, Department of Economics.
  2. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
  3. Kent Grote & Victor Matheson, 2006. "Dueling Jackpots: Are Competing Lotto Games Complements or Substitutes?," Atlantic Economic Journal, International Atlantic Economic Society, vol. 34(1), pages 85-100, March.
  4. David Forrest & O. David Gulley & Robert Simmons, 2004. "Substitution between games in the UK national lottery," Applied Economics, Taylor & Francis Journals, vol. 36(7), pages 645-651.
  5. McHale, I.G. & Peel, D.A., 2010. "Habit and long memory in UK lottery sales," Economics Letters, Elsevier, vol. 109(1), pages 7-10, October.
  6. S. Capacci & E. Randon & A. E. Scorcu, 2014. "Luck vs Skill in Gambling over the Recession. Evidence from Italy," Working Papers wp918, Dipartimento Scienze Economiche, Universita' di Bologna.
  7. Kearney, Melissa Schettini, 2005. "State lotteries and consumer behavior," Journal of Public Economics, Elsevier, vol. 89(11-12), pages 2269-2299, December.
  8. Thomas A. Garrett & Natalia Kolesnikova, 2010. "Local price variation and the tax incidence of state lotteries," Working Papers 2010-035, Federal Reserve Bank of St. Louis.
  9. Garrett, Thomas A. & Coughlin, Cletus C., 2009. "Inter–temporal Differences in the Income Elasticity of Demand for Lottery Tickets," National Tax Journal, National Tax Association, vol. 62(1), pages 77-99, March Cit.
  10. Kam Yu, 2009. "Measuring the Output and Prices of the Lottery Sector: An Application of Implicit Expected Utility Theory," NBER Chapters, in: Price Index Concepts and Measurement, pages 405-425 National Bureau of Economic Research, Inc.
  11. Thomas A. Garrett, 2011. "A closer look at the tax incidence of instant lottery games: an analysis by price point," Working Papers 2011-010, Federal Reserve Bank of St. Louis.
  12. Cletus C. Coughlin & Thomas A. Garrett, 2008. "Income and lottery sales: transfers trump income from work and wealth," Working Papers 2008-004, Federal Reserve Bank of St. Louis.
  13. Albers, Norman, 2011. "Grundzüge der Besteuerung von Sportwetten aus Sicht der Praxis
    [The taxation of sport betting: a professional's view]
    ," MPRA Paper 36449, University Library of Munich, Germany.
  14. Jonathan Guryan & Melissa S. Kearney, 2005. "Lucky Stores, Gambling, and Addiction: Empirical Evidence from State Lottery Sales," NBER Working Papers 11287, National Bureau of Economic Research, Inc.

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