Habit and long memory in UK lottery sales

I.G. McHale and David Peel

Economics Letters, 2010, vol. 109, issue 1, 7-10

Abstract: Long memory processes can occur as a consequence of aggregation over heterogeneous agents. We examine the UK lottery and, by estimating the level of fractional differencing, find evidence of the long memory property in lottery sales, a result that has broader implications on the estimation of demand models for lotteries.

Keywords: Long; memory; Fractional; integration; Lottery (search for similar items in EconPapers)
Date: 2010
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