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The Economics of Lotteries: An Annotated Bibliography

  • Kent Grote

    ()

    (Department of Economics and Business, Lake Forest College)

  • Victor Matheson

    ()

    (Department of Economics, College of the Holy Cross)

This paper presents an annotated bibliography of all papers relating to the economics of lotteries as of early to mid 2011. All published scholarly papers that could be identified by the authors are included along with the published abstract where available.

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File URL: http://web.holycross.edu/RePEc/hcx/HC1110-Grote-Matheson_AnnotatedBibliography.pdf
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Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1110.

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Length: 70 pages
Date of creation: Aug 2011
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Handle: RePEc:hcx:wpaper:1110
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  1. Forrest, David & Gulley, O. David & Simmons, Robert, 2000. "Elasticity of Demand for UK National Lottery Tickets," National Tax Journal, National Tax Association, vol. 53(n. 4), pages 853-64, December.
  2. Andrew Weinbach & Rodney Paul, 2008. "Running the Numbers on Lotteries and the Poor: An Empirical Analysis of Transfer Payment Distribution and Subsequent Lottery Sales," Atlantic Economic Journal, International Atlantic Economic Society, vol. 36(3), pages 333-344, September.
  3. Harry Markowitz, 1952. "The Utility of Wealth," Journal of Political Economy, University of Chicago Press, vol. 60, pages 151.
  4. Thomas S. Dee, 2004. "Lotteries, Litigation, and Education Finance," Southern Economic Journal, Southern Economic Association, vol. 70(3), pages 584-599, January.
  5. Skidmore, Mark & Serkan Tosun, Mehmet, 2008. "Do New Lottery Games Stimulate Retail Activity? Evidence from West Virginia Counties," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 38(1).
  6. Thomas A. Garrett & Russell S. Sobel, 2004. "State Lottery Revenue: The Importance of Game Characteristics," Public Finance Review, , vol. 32(3), pages 313-330, May.
  7. Bohm, Peter & Lind, Hans, 1993. "Preference reversal, real-world lotteries, and lottery-interested subjects," Journal of Economic Behavior & Organization, Elsevier, vol. 22(3), pages 327-348, December.
  8. Thomas A. Garrett & Cletus C. Coughlin, 2007. "Inter-temporal differences in the income elasticity of demand for lottery tickets," Working Papers 2007-042, Federal Reserve Bank of St. Louis.
  9. Kim, Taesung, 1996. "Revealed preference theory on the choice of lotteries," Journal of Mathematical Economics, Elsevier, vol. 26(4), pages 463-477.
  10. Cook, Philip J & Clotfelter, Charles T, 1993. "The Peculiar Scale Economies of Lotto," American Economic Review, American Economic Association, vol. 83(3), pages 634-43, June.
  11. Stephen Fink & Alan Marco & Jonathan Rork, 2004. "Lotto nothing? The budgetary impact of state lotteries," Applied Economics, Taylor & Francis Journals, vol. 36(21), pages 2357-2367.
  12. Jonathan Guryan & Melissa S. Kearney, 2008. "Gambling at Lucky Stores: Empirical Evidence from State Lottery Sales," American Economic Review, American Economic Association, vol. 98(1), pages 458-73, March.
  13. Donald S. Elliott & John C. Navin, 2002. "Has Riverboat Gambling Reduced State Lottery Revenue?," Public Finance Review, , vol. 30(3), pages 235-247, May.
  14. Prescott, Edward C. & Shell, Karl, 2002. "Introduction to Sunspots and Lotteries," Journal of Economic Theory, Elsevier, vol. 107(1), pages 1-10, November.
  15. Thaler, Richard H & Ziemba, William T, 1988. "Parimutuel Betting Markets: Racetracks and Lotteries," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 161-74, Spring.
  16. Victor Matheson & Kent Grote, 2004. "In Search of a Fair Bet in the Lottery," Working Papers 0401, College of the Holy Cross, Department of Economics.
  17. L. C. MacLean & W. T. Ziemba & G. Blazenko, 1992. "Growth Versus Security in Dynamic Investment Analysis," Management Science, INFORMS, vol. 38(11), pages 1562-1585, November.
  18. Lucca Corazzini & Marco Faravelli & Lucca Stanca, 2007. "A Prize to Give for: An Experiment on Public Good Funding Mechanisms," ESE Discussion Papers 159, Edinburgh School of Economics, University of Edinburgh.
  19. John R. Livernois, 1986. "The Taxing Game of Lotteries in Canada," Canadian Public Policy, University of Toronto Press, vol. 12(4), pages 622-627, December.
  20. Garrett, Thomas A. & Sobel, Russell S., 1999. "Gamblers favor skewness, not risk: Further evidence from United States' lottery games," Economics Letters, Elsevier, vol. 63(1), pages 85-90, April.
  21. Huck, Steffen & Weizsacker, Georg, 1999. "Risk, complexity, and deviations from expected-value maximization: Results of a lottery choice experiment," Journal of Economic Psychology, Elsevier, vol. 20(6), pages 699-715, December.
  22. Lindh, Thomas & Ohlsson, Henry, 1996. "Self-Employment and Windfall Gains: Evidence from the Swedish Lottery," Economic Journal, Royal Economic Society, vol. 106(439), pages 1515-26, November.
  23. Roger Hartley & Gauthier Lanot, 1999. "On the Design of Lottery Games," Keele Department of Economics Discussion Papers (1995-2001) 99/05, Department of Economics, Keele University, revised Apr 2000.
  24. Lindahl, Mikael, 2002. "Estimating the Effect of Income on Health and Mortality Using Lottery Prizes as Exogenous of Variation in Income," IZA Discussion Papers 442, Institute for the Study of Labor (IZA).
  25. Mark Edward Stover, 1990. "Contiguous state lotteries: Substitutes or complements?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(4), pages 565-568.
  26. Beenstock, Michael & Goldin, Ephraim & Haitovsky, Yoel, 2000. "What jackpot? The optimal lottery tax," European Journal of Political Economy, Elsevier, vol. 16(4), pages 655-671, November.
  27. Mikesell, John L., 1994. "State Lottery Sales and Economic Activity," National Tax Journal, National Tax Association, vol. 47(1), pages 165-71, March.
  28. Victor Matheson, 2001. "When Are State Lotteries a Good Bet (Revisited)?," Eastern Economic Journal, Eastern Economic Association, vol. 27(1), pages 55-70, Winter.
  29. Minabe, Shigeo, 1975. "A Time Deposit with Lottery Ticket," Public Finance = Finances publiques, , vol. 30(2), pages 222-30.
  30. Lany DeBoer, 1986. "Lottery taxes may be too high," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 5(3), pages 594-596.
  31. Gardner, Jonathan & Oswald, Andrew J., 2006. "Money and Mental Wellbeing: A Longitudinal Study of Medium-Sized Lottery Wins," IZA Discussion Papers 2233, Institute for the Study of Labor (IZA).
  32. Jackson, John D & Saurman, David S & Shughart, William F, II, 1994. "Instant Winners: Legal Change in Transition and the Diffusion of State Lotteries," Public Choice, Springer, vol. 80(3-4), pages 245-63, September.
  33. Charles T. Clotfelter & Philip J. Cook, 1990. "Redefining “success” in the state lottery business," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(1), pages 99-104.
  34. Ian Walker, 1998. "The economic analysis of lotteries," Economic Policy, CEPR;CES;MSH, vol. 13(27), pages 357-402, October.
  35. John Morgan & Martin Sefton, 2000. "Funding Public Goods with Lotteries: Experimental Evidence," Review of Economic Studies, Oxford University Press, vol. 67(4), pages 785-810.
  36. Connel Fullenkamp & Rafael Tenorio & Robert Battalio, 2003. "Assessing Individual Risk Attitudes Using Field Data From Lottery Games," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 218-226, February.
  37. Gulley, O. David & Scott, Frank A. Jr., 1989. "Lottery Effects on Pari-Mutuel Tax Revenues," National Tax Journal, National Tax Association, vol. 42(1), pages 89-93, March.
  38. Wilcox, Nathaniel T, 1993. "Lottery Choice: Incentives, Complexity and Decision Time," Economic Journal, Royal Economic Society, vol. 103(421), pages 1397-1417, November.
  39. Matheson, Victor A. & Grote, Kent R., 2004. "Lotto fever: do lottery players act rationally around large jackpots?," Economics Letters, Elsevier, vol. 83(2), pages 233-237, May.
  40. David Forrest, 2003. "Sport and Gambling," Oxford Review of Economic Policy, Oxford University Press, vol. 19(4), pages 598-611, Winter.
  41. D. R. Bellhouse, 1982. "Fair Is Fair: New Rules for Canadian Lotteries," Canadian Public Policy, University of Toronto Press, vol. 8(3), pages 311-320, Summer.
  42. Clotfelter, Charles T & Cook, Philip J, 1991. "Lotteries in the Real World," Journal of Risk and Uncertainty, Springer, vol. 4(3), pages 227-32, July.
  43. Yves Alarie & Georges Dionne, 2006. "Lottery Qualities," Cahiers de recherche 0617, CIRPEE.
  44. Cletus C. Coughlin & Thomas A. Garrett & Rubén Hernández-Murillo, 2006. "The geography, economics, and politics of lottery adoption," Review, Federal Reserve Bank of St. Louis, issue May, pages 165-180.
  45. Fernando Ramos Palencia, 2010. "Azar y fortuna en España: la Lotería Nacional, 1850-2000," Investigaciones de Historia Económica (IHE) Journal of the Spanish Economic History Association, Asociacion Espa–ola de Historia Economica, vol. 6(02), pages 149-185.
  46. Martin, Robert & Yandle, Bruce, 1990. "State Lotteries as Duopoly Transfer Mechanisms," Public Choice, Springer, vol. 64(3), pages 253-64, March.
  47. David Forrest & Ian McHale, 2007. "The Relationship Between a National and a Multistate Lotto Game," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(3), pages 207-216, November.
  48. Ng Yew Kwang, 1965. "Why do People Buy Lottery Tickets? Choices Involving Risk and the Indivisibility of Expenditure," Journal of Political Economy, University of Chicago Press, vol. 73, pages 530.
  49. 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.
  50. Thomas A. Garrett & Gary A. Wagner, 2004. "State government finances: World War II to the current crises," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 9-25.
  51. George Papachristou, 2004. "The British gambler's fallacy," Applied Economics, Taylor & Francis Journals, vol. 36(18), pages 2073-2077.
  52. Papachristou, George & Karamanis, Dimitri, 1998. "Investigating efficiency in betting markets: Evidence from the Greek 6/49 Lotto," Journal of Banking & Finance, Elsevier, vol. 22(12), pages 1597-1615, December.
  53. Donald Siegel & Gary Anders, 2001. "The Impact of Indian Casinos on State Lotteries: A Case Study of Arizona," Public Finance Review, , vol. 29(2), pages 139-147, March.
  54. Jonathan Guryan & Melissa S. Kearney, 2010. "Is Lottery Gambling Addictive?," American Economic Journal: Economic Policy, American Economic Association, vol. 2(3), pages 90-110, August.
  55. Donald J. Dale, 2004. "Charitable Lottery Structure and Fund Raising: Theory and Evidence," Experimental Economics, Springer, vol. 7(3), pages 217-234, October.
  56. Mary O. Borg & Paul M. Mason & Stephen L. Shapiro, 1993. "The Cross Effects of Lottery Taxes On Alternative State Tax Revenue," Public Finance Review, , vol. 21(2), pages 123-140, April.
  57. repec:ebl:ecbull:v:8:y:2003:i:10:p:1-8 is not listed on IDEAS
  58. David Forrest & Levi Perez & Rose Baker, 2010. "Evaluating the effects of game design on lotto sales: a case study from Spain," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 4(2), pages 1-19, September.
  59. Paul M. Mason & Jeffrey W. Steagall & Stephen L. Shapiro & Michael M. Fabritius, 2005. "Evaluating the Life Cycles of Education-Supporting Lotteries," Public Finance Review, , vol. 33(2), pages 255-271, March.
  60. Paul Pecorino & Akram Temimi, 2007. "Lotteries, Group Size, and Public Good Provision," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(3), pages 451-465, 06.
  61. James Alm & Robert Buckley, 1998. "Are Government Revenues From Financial Repression Worth the Costs?," Public Finance Review, , vol. 26(3), pages 187-213, May.
  62. Chang Wen-Chun, 2004. "An Empirical Analysis of Gambling Addiction: Results from the Case of Taiwan," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-17, October.
  63. Chin-Tsai Lin & Chien-Hua Lai, 2006. "Substitute effects between Lotto and Big Lotto in Taiwan," Applied Economics Letters, Taylor & Francis Journals, vol. 13(10), pages 655-658.
  64. Douglas M. Walker & John D. Jackson, 2011. "The Effect Of Legalized Gambling On State Government Revenue," Contemporary Economic Policy, Western Economic Association International, vol. 29(1), pages 101-114, 01.
  65. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2002. "A Policy Response To The E--Commerce Revolution: The Case Of Betting Taxation In The UK," Economic Journal, Royal Economic Society, vol. 112(480), pages F296-F314, June.
  66. Tosun, Mehmet Serkan & Skidmore, Mark, 2004. "Interstate Competition and State Lottery Revenues," National Tax Journal, National Tax Association, vol. 57(2), pages 163-78, June.
  67. Franklin Mixon & Steven Caudill & Jon Ford & Ter Peng, 1997. "The rise (or fall) of lottery adoption within the logic of collective action: Some empirical evidence," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 21(1), pages 43-49, March.
  68. Victor Matheson & Kent Grote, 2006. "Gamblers’ Love for Variety and Substitution among Lotto Games," Working Papers 0609, College of the Holy Cross, Department of Economics.
  69. Siow, Aloysius, 1989. "Fixed cost of work and the demand for lotteries," Economics Letters, Elsevier, vol. 29(4), pages 299-302.
  70. Landry, Craig E. & Price, Michael K., 2007. "Earmarking lottery proceeds for public goods: Empirical evidence from U.S. lotto expenditures," Economics Letters, Elsevier, vol. 95(3), pages 451-455, June.
  71. Peel, D.A., 2010. "On lottery sales, jackpot sizes and irrationality: A cautionary note," Economics Letters, Elsevier, vol. 109(3), pages 161-163, December.
  72. Farrell, Lisa, et al, 2000. "The Demand for Lotto: The Role of Conscious Selection," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(2), pages 228-41, April.
  73. George Papachristou, 2006. "Is lottery demand elasticity a reliable marketing tool? Evidence from a game innovation in greece," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 53(4), pages 627-640, December.
  74. Alok Kumar, 2009. "Who Gambles in the Stock Market?," Journal of Finance, American Finance Association, vol. 64(4), pages 1889-1933, 08.
  75. Vaughan Williams, Leighton, 1999. "Information Efficiency in Betting Markets: A Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 51(1), pages 1-30, January.
  76. Huck, Steffen & Weizsacker, Georg, 2002. "Do players correctly estimate what others do? : Evidence of conservatism in beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 47(1), pages 71-85, January.
  77. Peeters Hans & Marx Axel, 2006. "Lottery Games as a Tool for Empirical Basic Income Research," Basic Income Studies, De Gruyter, vol. 1(2), pages 1-7, December.
  78. Peter Gripaios & Paul Bishop & Steven Brand, 2010. "A lottery within a lottery? An examination of the distribution of lottery funds in England," Applied Economics, Taylor & Francis Journals, vol. 42(1), pages 63-71.
  79. Robson, Arthur J., 1996. "The Evolution of Attitudes to Risk: Lottery Tickets and Relative Wealth," Games and Economic Behavior, Elsevier, vol. 14(2), pages 190-207, June.
  80. Geronikolaou, George & Papachristou, George, 2007. "On the demand for lotteries in Greece," MPRA Paper 36701, University Library of Munich, Germany.
  81. Roger Hartley & Lisa Farrell, 2002. "Can Expected Utility Theory Explain Gambling?," American Economic Review, American Economic Association, vol. 92(3), pages 613-624, June.
  82. Andreas Lange & John A. List & Michael K. Price, 2007. "Using Lotteries To Finance Public Goods: Theory And Experimental Evidence," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 901-927, 08.
  83. Patrick Roger, 2009. "The demand for Euromillions lottery tickets: An international comparison," Working Papers of LaRGE Research Center 2009-05, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
  84. Kearney, Melissa Schettini, 2005. "The Economic Winners and Losers of Legalized Gambling," National Tax Journal, National Tax Association, vol. 58(2), pages 281-302, June.
  85. John Sawkins & Valerie Dickie, 2002. "National Lottery participation and expenditure: preliminary results using a two stage modelling approach," Applied Economics Letters, Taylor & Francis Journals, vol. 9(12), pages 769-773.
  86. David Forrest & Dika Alagic, 2007. "The History of a Lottery Game that was Seldom Won," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 57-68, February.
  87. 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.
  88. Chuan Lee & Chin-Tsai Lin & Chien-Hua Lai, 2010. "Jackpot promotion model for Taiwan Lotto," Applied Economics, Taylor & Francis Journals, vol. 42(6), pages 797-801.
  89. Cletus C. Coughlin & Thomas A. Garrett, 2008. "Income and lottery sales: transfers trump income from work and wealth," Working Papers 2008-004, Federal Reserve Bank of St. Louis.
  90. Rex J. Pjesky, 2009. "Should We Put Lotteries for Education on the Honor Roll or in the Corner?," The Journal of Economics, Missouri Valley Economic Association, vol. 35(2), pages 23-40.
  91. Quiggin, John, 1991. "On the Optimal Design of Lotteries," Economica, London School of Economics and Political Science, vol. 58(229), pages 1-16, February.
  92. Victor A. Matheson & Kent R. Grote, 2003. "Jacking Up the Jackpot: Are Lotto Consumers Fooled by Annuity Payments?," Public Finance Review, , vol. 31(5), pages 550-567, September.
  93. Alm, James & McKee, Michael J. & Skidmore, Mark, 1993. "Fiscal Pressure, Tax Competition, and the Introduction of State Lotteries," National Tax Journal, National Tax Association, vol. 46(4), pages 463-76, December.
  94. Elizabeth A. Freund & Irwin L. Morris, 2005. "The Lottery and Income Inequality in the States," Social Science Quarterly, Southwestern Social Science Association, vol. 86(s1), pages 996-1012.
  95. Murphy, Anne L., 2005. "Lotteries in the 1690s: Investment or Gamble?," Financial History Review, Cambridge University Press, vol. 12(02), pages 227-246, October.
  96. Beenstock, Michael & Haitovsky, Yoel, 2001. "Lottomania and other anomalies in the market for lotto," Journal of Economic Psychology, Elsevier, vol. 22(6), pages 721-744, December.
  97. Cletus C. Coughlin & Thomas A. Garrett & Rubén Hernández-Murillo, 2004. "Spatial probit and the geographic patterns of state lotteries," Working Papers 2003-042, Federal Reserve Bank of St. Louis.
  98. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279.
  99. Garrett, Thomas A. & Marsh, Thomas L., 2002. "The revenue impacts of cross-border lottery shopping in the presence of spatial autocorrelation," Regional Science and Urban Economics, Elsevier, vol. 32(4), pages 501-519, July.
  100. Anthony C. Krautmann & James E. Ciecka, 1993. "When Are State Lotteries a Good Bet?," Eastern Economic Journal, Eastern Economic Association, vol. 19(2), pages 157-164, Spring.
  101. Garrett, Thomas A, 2001. "The Leviathan Lottery? Testing the Revenue Maximization Objective of State Lotteries as Evidence for Leviathan," Public Choice, Springer, vol. 109(1-2), pages 101-17, October.
  102. Charles T. Clotfelter & Philip J. Cook, 1987. "Implicit Taxation in Lottery Finance," NBER Working Papers 2246, National Bureau of Economic Research, Inc.
  103. George Papachristou, 2009. "Scale economies of lotto once more," Applied Economics Letters, Taylor & Francis Journals, vol. 16(3), pages 319-323.
  104. Donald I. Price & E. Shawn Novak, 2000. "The Income Redistribution Effects of Texas State Lottery Games," Public Finance Review, , vol. 28(1), pages 82-92, January.
  105. Cox, James C & Epstein, Seth, 1989. "Preference Reversals without the Independence Axiom," American Economic Review, American Economic Association, vol. 79(3), pages 408-26, June.
  106. Richard Thalheimer & Mukhtar M. Ali, 1995. "The Demand for Parimutuel Horse Race Wagering and Attendance," Management Science, INFORMS, vol. 41(1), pages 129-143, January.
  107. 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.
  108. Robert E. Carpenter & Evan L. Perlman & Donald F. Norris, 2010. "Who Pays for the Maryland Lottery?: Evidence from Point of Sale Data," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 4(1), pages 31-52, March.
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