Abstract
State lottery revenues are shown to increase during the week transfer payments are distributed. The timing of the increase in lottery purchases suggests a portion of the transfer payments is used to purchase lottery tickets. In addition to providing information on the timing of lottery purchases, this study finds sales of Pick 3 and Pick 4 tickets increase during the period, while sales of Pick 5 and Pick 6 games do not, suggesting a general preference for the relatively higher probability, smaller jackpot games for the group.
Original language | English (US) |
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Pages (from-to) | 333-344 |
Number of pages | 12 |
Journal | Atlantic Economic Journal |
Volume | 36 |
Issue number | 3 |
DOIs | |
State | Published - 2008 |
Externally published | Yes |
Keywords
- Liquidity constraints
- Lottery
- Permanent income hypothesis
- Transfer payments
ASJC Scopus subject areas
- General Economics, Econometrics and Finance