Scale economies of lotto once more

George Papachristou

Applied Economics Letters, 2009, vol. 16, issue 3, 319-323

Abstract: Under the assumption of random number selection, higher moments of a lotto ticket payoff seem to exhibit a peculiar behaviour; variance (and probably skewness) rises up to some number of bets before approaching its limit from above. A close inspection of the 'simplest' expression obtained by means of a hypergeometric summation algorithm suggests that the payoff variance (and probably skewness) is unimodal and attains its highest at a realistic scale.

Date: 2009
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DOI: 10.1080/13504850601018445

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