Atlantic Economic Journal

, Volume 24, Issue 4, pp 349–360 | Cite as

State lotteries and externalities to their participants

  • James Ciecka
  • Seth Epstein
  • Anthony C. Krautmann
Articles

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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References

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Copyright information

© International Atlantic Economic Society 1996

Authors and Affiliations

  • James Ciecka
    • 1
  • Seth Epstein
    • 1
  • Anthony C. Krautmann
    • 1
  1. 1.De Paul UniversityUSA

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