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State lotteries and externalities to their participants

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Abstract

The degree of participation in state lotteries can either increase or decrease expected returns. It is theoretically possible for unfair bets to become more than fair as participation in lotteries changes. In addition, the purchase of every combination of numbers can be more than a fair bet and such a purchase may increase the expected return to other lottery players.

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Authors and Affiliations

  1. De Paul University, USA

    James Ciecka, Seth Epstein & Anthony C. Krautmann

Authors
  1. James Ciecka
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  2. Seth Epstein
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  3. Anthony C. Krautmann
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Ciecka, J., Epstein, S. & Krautmann, A.C. State lotteries and externalities to their participants. Atlantic Economic Journal 24, 349–360 (1996). https://doi.org/10.1007/BF02298436

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  • DOI: https://doi.org/10.1007/BF02298436

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