The income elasticity of lottery revisiteda worldwide perspective

  1. Levi Pérez 1
  2. Álvaro Muñiz 2
  1. 1 University of Oviedo, Spain
  2. 2 University of Cantabria, Spain
Revista:
Economics and Business Letters

ISSN: 2254-4380

Año de publicación: 2021

Volumen: 10

Número: 4

Páginas: 403-407

Tipo: Artículo

DOI: 10.17811/EBL.10.4.2021.403-407 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

Otras publicaciones en: Economics and Business Letters

Objetivos de desarrollo sostenible

Resumen

Using panel data information from The WLA Global Lottery Data Compendium this paper estimates aggregate demand functions for lottery tickets in order to examine specific world region differences in the income elasticity of lottery. The analysis uses a panel data quantile regression approach. The estimated elasticities are compared across income quartiles and world regions. The results provide evidence that a significant variation in the income elasticities across both geographic areas and the income distribution exists. Also, a clear heterogeneity in the incidence of lottery expenditures is observed. Overall, it is found that lottery is a normal good.

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