Munich Personal RePEc Archive

On the demand for lotteries in Greece

Geronikolaou, George and Papachristou, George (2007): On the demand for lotteries in Greece. Published in: International Journal of Business and Economics , Vol. 6, No. 3 (2007): pp. 255-259.

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Abstract

Demand for lotteries has been estimated in several countries, an important issue being whether operators set lottery payouts optimally. The question is tackled by means of a traditional demand equation in effective price and recently by a demand equation variant in jackpots, both specifications indicating that in many countries operators set their payout ratio more or less correctly and slightly on the generous side. The objective of this paper is to provide evidence on the lottery demand parameters in Greece and to assess the optimality of the current payout-allocating rules

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