The illusion of control, the structures of prizes and the demand for football pools in Spain
AbstractUsing data for all the fixtures for the seasons from 1972-73 to 2002-03, we estimate a dynamic model of demand for football pools in Spain paying attention to whether their main economic explanatory variable is the effective price of a ticket or the jackpot. Additionally, we evaluate the importance of the composition of the list of games in terms of whether First Division matches are included or not. Results show that the jackpot model is preferred to the effective price model, having important implications in terms of how the structure of the game should be changed in order to increase demand.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 825.
Date of creation: Apr 2005
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Web page: http://www.econ.upf.edu/
Lottery; football pools; effective price; jackpot;
Other versions of this item:
- J. Garcia & P. Rodríguez, 2004. "The Illusion of Control, the Structure of Prizes and the Demand for Football Pools in Spain," IASE Conference Papers 0436, International Association of Sports Economists.
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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