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On the demand for lotteries in Greece

Author

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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

Suggested Citation

  • Geronikolaou, George & Papachristou, George, 2007. "On the demand for lotteries in Greece," MPRA Paper 36701, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:36701
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    File URL: https://mpra.ub.uni-muenchen.de/36701/1/MPRA_paper_36701.pdf
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    References listed on IDEAS

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    1. Lisa Farrell & Edgar Morgenroth & Ian Walker, 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 513-526, November.
    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 513-526, 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.
    4. 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.
    5. Gulley, O. David & Scott, Frank A. Jr., 1993. "The Demand for Wagering on State-Operated Lotto Games," National Tax Journal, National Tax Association;National Tax Journal, vol. 46(1), pages 13-22, March.
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    Cited by:

    1. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: A Survey of the Literature," Working Papers 1109, College of the Holy Cross, Department of Economics.
    2. 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.
    3. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.

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    More about this item

    Keywords

    demand elasticity; payout policy;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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