The Efficiency Of Lottery Markets
Bibliographic Data
| ID | 23599884 |
|---|---|
| Authors | David Forrest (0000-0003-0565-3396, University of Salford), O David Gulley (Bentley University) |
| Editors | Leighton Vaughan-Williams, Donald S Siegel (0000-0002-7668-9751) |
| Year | 2013 |
| Pages | 587-610 |
| Publication date | 2013-11-12 |
| Open Access | No |
| Type | CHAPTER |
| Venue | The Oxford Handbook of the Economics of Gambling (SOURCE_BOOK) |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/oxfordhb/9780199797912.013.0030 |
| OpenAlex | W1837848321 |
| ISBN | 9780199797912 |
| Language | EN |
This chapter analyzes the degree to which lottery players demonstrate rational behavior and how they use available information to make decisions about participation and level of play. Overall, players of lotto games act as if they understand the rules of the game and appropriately use relevant information about the games. Exceptions to efficiency are found, but these inefficiencies cannot be easily exploited by bettors.
Economics · Lottery · Microeconomics · Computer Science · Consumer Market Behavior and Pricing · Gambling Behavior and Treatments · Sports Analytics and Performance
| Highly cited | No |
|---|