Substitute effects between Lotto and Big Lotto in Taiwan
Abstract
Lotto was inaugurated in January 2002 and immediately became a popular activity in Taiwan. The purpose of this investigation is to examine the effective price elasticity of Big Lotto and the substitute effects between Lotto (6/42) and Big Lotto (6/49). The analytical results can provide suggestions to the Taipei Bank on ways to improve lottery sales. The empirical findings of investigation include: (1) no significant substitutive or complementary relationships exist between Big Lotto and Lotto in Taiwan (2) the effective price elasticity of Big Lotto is -0.145, Taipei Bank can increase the revenue gained from Big Lotto by increasing the effective price.Download Info
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Bibliographic Info
Article provided by Taylor and Francis Journals in its journal Applied Economics Letters.
Volume (Year): 13 (2006)
Issue (Month): 10 ()
Pages: 655-658
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Related research
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References listed on IDEASPlease 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.:
- O. Homer Erekson & Glenn Platt & Christopher Whistler & Andrea Ziegert, 1999. "Factors influencing the adoption of state lotteries," Applied Economics, Taylor and Francis Journals, vol. 31(7), pages 875-884.
- David Forrest & O. David Gulley & Robert Simmons, 2000. "Testing for rational expectations in the UK National Lottery," Applied Economics, Taylor and Francis Journals, vol. 32(3), pages 315-326.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
- Humphreys, Brad & Perez, Levi, 2011. "Lottery Participants and Revenues: An International Survey of Economic Research on Lotteries," Working Papers 2011-17, University of Alberta, Department of Economics.
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