Running the Numbers on Lotteries and the Poor: An Empirical Analysis of Transfer Payment Distribution and Subsequent Lottery Sales |
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| Authors: | Andrew P. Weinbach Rodney J. Paul |
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| Affiliation: | (1) E. Craig Wall College of Business Administration, Coastal Carolina University, P.O. Box 261954, Conway, SC 29528-6054, USA;(2) School of Business, Saint Bonaventure University, 229 Murphy Building, Saint Bonaventure, NY 14778, USA |
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| Abstract: | ![]()
State lottery revenues are shown to increase during the week transfer payments are distributed. The timing of the increase in lottery purchases suggests a portion of the transfer payments is used to purchase lottery tickets. In addition to providing information on the timing of lottery purchases, this study finds sales of Pick 3 and Pick 4 tickets increase during the period, while sales of Pick 5 and Pick 6 games do not, suggesting a general preference for the relatively higher probability, smaller jackpot games for the group. |
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| Keywords: | Lottery Transfer payments Liquidity constraints Permanent income hypothesis |
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