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Dueling Jackpots: Are Competing Lotto Games Complements or Substitutes?

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Author Info
Victor Matheson () (Department of Economics, College of the Holy Cross)
Kent Grote () (Department of Economics and Business, Lake Forest College)

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Abstract

This paper considers the relationship that exists between two lottery products offered simultaneously in the same state, a smaller lottery game run by the individual state and a larger multi-state game run in coordination with other states. The primary issue is whether the two different products should be considered substitutes or complements for one another. The question is considered from two different perspectives that lead to a conclusion that while the two products do tend to be complements to one another, overall the individually run state lottery games experience a reduction in sales from the presence of the multi-state game.

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File URL: http://www.holycross.edu/departments/economics/RePEc/Matheson_DuelingJackpots.pdf
File Format: application/pdf
File Function: Updated version, May 2005
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Publisher Info
Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 0406.

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Length: 29 pages
Date of creation: Nov 2004
Date of revision:
Publication status: Published in Atlantic Economic Journal, Vol. 34:1, March 2006, pp. 85-100.
Handle: RePEc:hcx:wpaper:0406

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Phone: (508)793-3362
Fax: (508) 793-3708
Web page: http://www.holycross.edu/departments/economics/website/
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Related research
Keywords: lotto; lottery; public finance; gambling;

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Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism

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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.:
  1. Cook, Philip J & Clotfelter, Charles T, 1993. "The Peculiar Scale Economies of Lotto," American Economic Review, American Economic Association, vol. 83(3), pages 634-43, June. [Downloadable!] (restricted)
    Other versions:
  2. Victor Matheson, 2001. "When Are State Lotteries a Good Bet (Revisited)?," Eastern Economic Journal, Eastern Economic Association, vol. 27(1), pages 55-70, Winter. [Downloadable!]
  3. David Forrest & O. David Gulley & Robert Simmons, 2004. "Substitution between games in the UK national lottery," Applied Economics, Taylor and Francis Journals, vol. 36(7), pages 645-651, April. [Downloadable!] (restricted)
  4. Matheson, Victor A. & Grote, Kent R., 2004. "Lotto fever: do lottery players act rationally around large jackpots?," Economics Letters, Elsevier, vol. 83(2), pages 233-237, May. [Downloadable!] (restricted)
  5. Scott, Frank A, Jr & Gulley, O David, 1995. "Testing for Efficiency in Lotto Markets," Economic Inquiry, Oxford University Press, vol. 33(2), pages 175-88, April.
  6. 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. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Kent R. Grote & Victor A. Matheson, 2006. "In Search of a Fair Bet in the Lottery," Eastern Economic Journal, Eastern Economic Association, vol. 32(4), pages 673-684, Fall. [Downloadable!]
    Other versions:
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