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On the demand for lotteries in Greece

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  • Geronikolaou, George
  • Papachristou, George

Abstract

Demand for lotteries has been estimated in several countries, an important issue being whether operators set lottery payouts optimally. The question is tackled by means of a traditional demand equation in effective price and recently by a demand equation variant in jackpots, both specifications indicating that in many countries operators set their payout ratio more or less correctly and slightly on the generous side. The objective of this paper is to provide evidence on the lottery demand parameters in Greece and to assess the optimality of the current payout-allocating rules

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 36701.

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Date of creation: 2007
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Publication status: Published in International Journal of Business and Economics 3.6(2007): pp. 255-259
Handle: RePEc:pra:mprapa:36701

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Keywords: demand elasticity; payout policy;

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References

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  1. Paul M. Mason & Jeffrey W. Steagall & Michael M. Fabritius, 1997. "The Elasticity of Demand for Lotto Tickets and the Corresponding Welfare Effects," Public Finance Review, , vol. 25(5), pages 474-490, September.
  2. Farrell, Lisa & Morgenroth, Edgar & Walker, Ian, 1999. " A Time Series Analysis of U.K. Lottery Sales: Long and Short Run Price Elasticities," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(4), pages 513-26, November.
  3. Gulley, O. David & Scott, Frank A. Jr., 1993. "The Demand for Wagering on State-Operated Lotto Games," National Tax Journal, National Tax Association, vol. 46(1), pages 13-22, March.
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Cited by:
  1. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers, College of the Holy Cross, Department of Economics 1110, College of the Holy Cross, Department of Economics.
  2. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: A Survey of the Literature," Working Papers, College of the Holy Cross, Department of Economics 1109, College of the Holy Cross, Department of Economics.
  3. 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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