This study shows that the propensity to gamble and investment decisions are correlated. At
the aggregate level, individual investors prefer stocks with lottery features, and like lottery …

This paper reviews the government role in the legalized gambling sector and addresses
some of the major issues relevant to any normative analysis of what the government role …

Abstract Research Summary Tobit models have been used to address several questions in
management research. Reviewing existing practices and applications, we discuss three …

Lotteries operate today in many countries around the world. This type of gambling is usually
run by governments and is sometimes described as regressive. Lottery is an unfair bet, so …

This paper offers evidence from three different samples consistent with investors substituting
between playing the lottery and gambling in financial markets. In the United States …

This paper investigates two central issues regarding state lotteries. First, analyses of multiple
sources of micro-level data demonstrate that household lottery spending is financed …

State‐sponsored lotteries are a lucrative source of revenue. Despite their low payout rates,
lotteries are extremely popular, particularly among low‐income citizens. State officials laud …

Mangrove forests provide many ecosystem services but are among the world's most
threatened ecosystems. Mangroves vary substantially according to their geomorphic and …

We show that the week after selling a large-prize Texas Lotto winning ticket, a retailer
experiences a 12 to 38 percent relative increase in ticket sales. Some increase persists for …

This paper estimates the demand for lottery tickets using pooled cross section data that
contain individual incomes and extensive information about characteristics. One of the cross …