Media Exposure And Individual Choices: Evidence From Lotto Players
AbstractTo what extent individual choices are influenced by media exposure? We try to provide evidence on this issue considering how the sales of lotto tickets are determined by the size of the top prize (the jackpot) compared to the amount of attention that media devote to the game. We use data on the Italian SuperEnalotto (2003- 2010) and estimate tickets sales in relation to the jackpot size and to several measures of lotto media coverage. To take into account that media attention may be affected by the amount of tickets sold we instrument media coverage with the availability of other newsworthy material (sport events and disasters). It emerges that media attention to the game is inversely related to the availability of other news. Two-Stage-Least Squares Estimations show that, given the jackpot size, players spend more on lotto when media attention to the game is higher.
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Bibliographic InfoPaper provided by Università della Calabria, Dipartimento di Economia, Statistica e Finanza (Ex Dipartimento di Economia e Statistica) in its series Working Papers with number 201102.
Length: 9 pages
Date of creation: Feb 2011
Date of revision:
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Postal: Università della Calabria, Dipartimento di Economia, Statistica e Finanza, Ponte Pietro Bucci, Cubo 0/C, I-87036 Arcavacata di Rende, CS, Italy
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Fax: +39 0984 492421
Web page: http://www.unical.it/portale/strutture/dipartimenti_240/disesf/
More information through EDIRC
Media Influence; Media Exposure; Psychology and Economics; Lottery; Instrumental Variables;
Find related papers by JEL classification:
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D1 - Microeconomics - - Household Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
- NEP-CUL-2011-02-26 (Cultural Economics)
- NEP-SPO-2011-02-26 (Sports & Economics)
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