Buying a Dream: Alternative Models of Demand for Lotto
David Forrest (),
Robert Simmons () and
Neil Chesters ()
Additional contact information
David Forrest: Centre for the Study of Gambling and Commercial Gaming, University of Salford, Salford, M5 4WT, UK.
Neil Chesters: Dresdner Kleinwort Wasserstein, Riverbank House, 2 Swan Lane, London EC4R 3UX, UK.
Economic Inquiry, 2002, vol. 40, issue 3, 485-496
Existing lotto demand models utilize effective price, computed as the face value of a ticket minus the expected value of prize money per ticket, as their primary explanatory variable. By contrast, this article proposes a key role for consumption benefit or "fun" in the demand for gambling in general and lotto demand in particular. It develops an alternative model of lotto demand that focuses on the maximum possible prize. When this is tested against the traditional model using data from the U.K. National Lottery, we find that jackpot considerations exert an influence over and above that of variations in effective price. Copyright 2002, Oxford University Press.
References: Add references at CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:ecinqu:v:40:y:2002:i:3:p:485-496
Ordering information: This journal article can be ordered from
Access Statistics for this article
Economic Inquiry is currently edited by Preston McAfee
More articles in Economic Inquiry from Western Economic Association International Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().