The Lotto and Expected Net Revenue
A multiperiod model (based on sales from the Florida Lotto) is used to estimate revenue and probability that the grand prize will roll over. Results indicate that allocating a greater percentage of ticket sales to the grand prize increases net revenue.
Volume (Year): 48 (1995)
Issue (Month): 1 (March)
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- Clotfelter, Charles T & Cook, Philip J, 1990. "On the Economics of State Lotteries," Journal of Economic Perspectives, American Economic Association, vol. 4(4), pages 105-19, Fall.
- John F. Scoggins, 1994. "Upping the Ante for Lotto: a Strategy for Enhancing State Revenues," Public Finance Review, , vol. 22(2), pages 258-264, April.
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