Chasing rainbows: On the relationship between lottery tickets and common stocks

Kathrin Johansen and Nico Singer

No 129, Thuenen-Series of Applied Economic Theory from University of Rostock, Institute of Economics

Abstract: This paper analyses the relationship between lottery tickets and common stocks using cross sectional household data for the U.K. and Germany. In contrast to a previous empirical finding that predicts a complementary effect and nonexpected utility models that predict a substitutional effect, we find that lottery tickets purchases and stock market investments are independent.

JEL-codes: D12 G11 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:roswps:129

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