An International Comparison and Analysis of Lotteries and the Distribution of Lottery Expenditures

Garrett, Thomas A.

doi:10.1080/02692170151137096

Cited by 23 publications

(19 citation statements)

References 20 publications

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“…The coefficient of the variable PCGDP*Class 4 is negative, but the variable is insignificant. These results do not confirm Garrett's (2001) findings, since we did not find a negative and significant coefficient for the highest income-class countries. Therefore, the results of this paper do not confirm the hypothesis that lottery products may be considered an inferior good in countries having the highest level of per-capita GDP.…”

Section: Regression Resultscontrasting

confidence: 56%

Is the Lottery Product an Inferior Good in Higher Income Countries?

Kaizeler¹,

Faustino²

2011

IJEF

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Do the populations of low per-capita income countries participate with a stronger desire to win and spend relatively more money on lottery products? Is such a desire to buy lottery products constant, or does it decrease when the country reaches a higher per-capita income class? To answer these questions, this paper uses econometric models with significant explanatory variables. The results confirm the hypothesis that the lower income-class countries spend more than the higher income-class countries. However, the results do not confirm the hypothesis that lottery products may be considered an inferior good in countries belonging to the higher per-capita income class. The results also show that for all countries, there is an inverted U relationship between per-capita sales and per-capita GDP and up to a specific value, the per-capita lottery sales decrease as per-capita GDP increases, becoming an inferior good as a result.

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Section: Regression Resultscontrasting

confidence: 56%

Is the Lottery Product an Inferior Good in Higher Income Countries?

Kaizeler¹,

Faustino²

2011

IJEF

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“…Rogers and Webley (2001), for instance, report that 65% of the adult population in the United Kingdom regularly buys Lotto tickets. About half of the world's countries run (national) lotteries, with total revenues of about US-$ 115 billion in 1997 (Garrett, 2001). Other forms of gambling are left behind.…”

Section: Introductionmentioning

confidence: 99%

‘Let me dream on!’ Anticipatory emotions and preference for timing in lotteries

Kocher

Krawczyk

Winden

2014

Journal of Economic Behavior & Organization

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We analyze one of the explanations why people participate in lotteries. Our hypothesis stipulates that part of the value that a unit of money buys in lotteries is consumed before the actual resolution in the form of emotions such as hope. In other words, a person holding a lottery ticket may prefer a delayed resolution of risk due to positive anticipatory emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may contribute to explaining empirical puzzles associated with lottery participation, timing of resolution and the spreading of drawings. More specifically, we find that a substantial number of participants prefer delayed resolution, that anticipated thrill is the main variable explaining this choice, that emotions actually experienced during the waiting period are indeed predominantly positive and correlated with predictions. Finally, we find that a great majority prefers to 'spread' chances, that is, to obtain one ticket for each of two drawings rather than two for the same drawing. JEL: C93, D81

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“…Additional literature, in particular research on lottery sales activity, suggests that gambling expenditures are a function of several factors: population and jackpot size (Cook and Clotfelter, 1993), 7 income (Garrett, 2001;Mikesell, 1994;Mikesell and Zorn, 1987;DeBoer, 1986), entertainment expenditures (Hass, Heidt, and Lockwood, 1999), 8 and convenience DeBoer, 2001a-2001e;Crowe-Chizek & Co., 2002). Consequently, we analyze the change in charitable gambling receipts in relation to coincident changes in personal income, entertainment receipts, population, and casino gambling receipts from 1988 to 1999.…”

Section: Factors Affecting Gambling Expendituresmentioning

confidence: 97%