State lotteries and externalities to their participants
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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
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