State lotteries and externalities to their participants
- 22 Downloads
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.
KeywordsInternational Economic Public Finance Expected Return State Lottery Lottery Player
Unable to display preview. Download preview PDF.
- Borg, M. O.; Mason, P. M. "The Budgetary Incidence of a Lottery to Support Education,"National Tax Journal, 41, 1988, pp. 75–85.Google Scholar
- Brinner, R. E.; Clotfelter, C. T. "An Economic Appraisal of State Lotteries,"National Tax Journal, 28, 1975, pp. 395–404.Google Scholar
- Ciecka, J. E.; Epstein, Seth; Krautmann, Anthony. "Breaking the Fair-Bet Barrier,"Atlantic Economic Journal, 23, 1995, p. 231.Google Scholar
- Chicago Tribune, February 21, 1992.Google Scholar
- Clotfelter, C. T.; Cook, P. J. "Implicit Taxation in Lottery Finance,"National Tax Journal, 40, 1987, pp. 533–46.Google Scholar
- Cook, P. J.; Clotfelter, C. T. "The Peculiar Scale Economies of Lotto,"American Economic Review, 83, 1993, pp. 634–43.Google Scholar
- Gulley, O. D.; Scott, F. A., Jr. "The Demand for Wagering on State-Operated Lotto Games,"National Tax Journal, 46, 1993, pp. 13–22.Google Scholar
- Illinois Administrative Code, Department of the Lottery, 1993.Google Scholar
- Illinois Department of the Lottery, "Odds Calculations Are Based on the Principles of Combinatorics," undated.Google Scholar
- Saunders, S. C.; Moody, M. E. "Great Expectations: Playing the Odds in the State Lotteries,"Northwest Science, 61, 1987, pp. 239–48.Google Scholar
- Thiel, S. E. "Policy, Participation and Revenue in Washington State Lotto,"National Tax Journal, 44, 1991, pp. 225–35.Google Scholar