Running the numbers on lotteries and the poor: An empirical analysis of transfer payment distribution and subsequent lottery sales

Andrew P. Weinbach; Rodney J. Paul

doi:10.1007/s11293-008-9138-6

Running the numbers on lotteries and the poor: An empirical analysis of transfer payment distribution and subsequent lottery sales

Andrew P. Weinbach, Rodney J. Paul

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

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)
Pages (from-to)	333-344
Number of pages	12
Journal	Atlantic Economic Journal
Volume	36
Issue number	3
DOIs	https://doi.org/10.1007/s11293-008-9138-6
State	Published - 2008
Externally published	Yes

Keywords

Liquidity constraints
Lottery
Permanent income hypothesis
Transfer payments

ASJC Scopus subject areas

General Economics, Econometrics and Finance

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10.1007/s11293-008-9138-6

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AB - 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.

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KW - Permanent income hypothesis

KW - Transfer payments

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Running the numbers on lotteries and the poor: An empirical analysis of transfer payment distribution and subsequent lottery sales

Abstract

Keywords

ASJC Scopus subject areas

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