International Review of Economics

, Volume 53, Issue 4, pp 627–640 | Cite as

Is lottery demand elasticity a reliable marketing tool? Evidence from a game innovation in greece

Article

Abstract

Demand for lotteries and especially lotto has been extensively studied in an international context, an important question being whether lottery providers correctly price their product. In Greece a lotto game has been offered since 1990 whereas a new version was introduced seven years later with a clearly more skewed payoff. The objective of this paper is to analyze whether demand estimates from the original game help explain the subsequent innovation and to assess, in that sense, the reliability of demand estimates as a marketing tool. (JEL: D12, L83)

Keywords

lotteries lotto demand elasticity pricing marketing 

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Copyright information

© Springer 2006

Authors and Affiliations

  1. 1.Department of EconomicsAristotle University of ThessalonikiThessalonikiGreece

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