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Substitute effects between Lotto and Big Lotto in Taiwan

  • Chin-Tsai Lin
  • Chien-Hua Lai
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    Lotto was inaugurated in January 2002 and immediately became a popular activity in Taiwan. The purpose of this investigation is to examine the effective price elasticity of Big Lotto and the substitute effects between Lotto (6/42) and Big Lotto (6/49). The analytical results can provide suggestions to the Taipei Bank on ways to improve lottery sales. The empirical findings of investigation include: (1) no significant substitutive or complementary relationships exist between Big Lotto and Lotto in Taiwan (2) the effective price elasticity of Big Lotto is -0.145, Taipei Bank can increase the revenue gained from Big Lotto by increasing the effective price.

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    Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

    Volume (Year): 13 (2006)
    Issue (Month): 10 ()
    Pages: 655-658

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    Handle: RePEc:taf:apeclt:v:13:y:2006:i:10:p:655-658
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    1. 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.
    2. Scoggins, John F., 1995. "The Lotto and Expected Net Revenue," National Tax Journal, National Tax Association, vol. 48(1), pages 61-70, March.
    3. David Forrest & O. David Gulley & Robert Simmons, 2000. "Testing for rational expectations in the UK National Lottery," Applied Economics, Taylor & Francis Journals, vol. 32(3), pages 315-326.
    4. O. Homer Erekson & Glenn Platt & Christopher Whistler & Andrea Ziegert, 1999. "Factors influencing the adoption of state lotteries," Applied Economics, Taylor & Francis Journals, vol. 31(7), pages 875-884.
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