THE (AGGREGATE) DEMAND FOR STATE-LOTTERY TICKETS: WHAT HAVE WE REALLY LEARNED?
Lottery-demand models using aggregate data are often used to make inferences regarding individual behavior, the most important being the distributional burden of lottery-ticket expenditures. It is shown here that estimates for the income elasticity and the cross-price elasticity will only be represe...
| Publicado en: | Contemporary Economic Policy Vol. 34; no. 3; pp. 475 - 483 |
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| Formato: | Artículo |
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Wiley-Blackwell
Jul2016
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=115757780&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 115757780 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 10743529 CEY jtl: Contemporary Economic Policy issn: 10743529 maglogo: Y pubinfo: dt: Jul2016 vid: 34 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 115757780 10.1111/coep.12155 ppf: 475 ppct: 8 formats: fmt: – @attributes: type: T – @attributes: type: P size: 276KB tig: atl: THE (AGGREGATE) DEMAND FOR STATE-LOTTERY TICKETS: WHAT HAVE WE REALLY LEARNED? aug: au: Garrett, Thomas A. affil: Department of Economics, University of Mississippi, University MS 38677 su: Consumption (Economics) Income Elasticity (Economics) Cross-sectional method Consumer behavior Lottery tickets sug: subj: Consumption (Economics) Income Elasticity (Economics) Cross-sectional method Consumer behavior Lottery tickets ab: Lottery-demand models using aggregate data are often used to make inferences regarding individual behavior, the most important being the distributional burden of lottery-ticket expenditures. It is shown here that estimates for the income elasticity and the cross-price elasticity will only be representative of individual behavior under extremely restrictive assumptions. In fact, estimation of aggregate-demand models presupposes that the income elasticity is equal to one. Cross-sectional analyses using microlevel data face similar restrictions on consumer behavior. Remedies are discussed, but more conclusive evidence on the distributional burden of lotteries will remain elusive until better individual-level data become available. (JEL D11, H71, H22) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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