Is lottery demand elasticity a reliable marketing tool? Evidence from a game innovation in greece |
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Authors: | George A Papachristou |
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Institution: | (1) Department of Economics, Aristotle University of Thessaloniki, Thessaloniki, Greece |
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Abstract: | Demand for lotteries and especially lotto has been extensively studied in an international context, an important question
being whether lottery providers correctly price their product. In Greece a lotto game has been offered since 1990 whereas
a new version was introduced seven years later with a clearly more skewed payoff. The objective of this paper is to analyze
whether demand estimates from the original game help explain the subsequent innovation and to assess, in that sense, the reliability
of demand estimates as a marketing tool. (JEL: D12, L83) |
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Keywords: | lotteries lotto demand elasticity pricing marketing |
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