Gambling on Lotto Numbers: Testing for Substitutability or Complementarity Using Semi-weekly Turnover Data

Autor:	Patrick Waldron, Catriona Purfield
Rok vydání:	1999
Předmět:	Statistics and Probability Economics and Econometrics Turnover time Economics Econometrics Unit root Statistics Probability and Uncertainty Complementarity (physics) Social Sciences (miscellaneous)
Zdroj:	Oxford Bulletin of Economics and Statistics. 61:527-544
ISSN:	1468-0084 0305-9049
DOI:	10.1111/1468-0084.00142
Popis:	The impact on the demand for a gambling product of the introduction of a competing product is a topical issue in Britain, Ireland and elsewhere. We consider empirically the demand for Lotto itself and for fixed-odds betting on the Lotto draw. The evidence suggests that these products are complements. Problems are posed by the need to rely on turnover data instead of price and quantity data in testing for substitutability or complementarity and by the semi-weekly nature of Lotto draws, which raises the possibility of a `seasonal' unit root in the turnover time series.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::d2a2b8849fd9f735a41183c45d333b7d https://doi.org/10.1111/1468-0084.00142 Zobrazit plný text záznamu Plný text ve formátu PDF