Farrell, Lisa; Morgenroth, Edgar; Walker, Ian - In: Oxford Bulletin of Economics and Statistics 61 (1999) 4, pp. 513-26
This paper estimates the long- and short-run elasticities for Lotto. It is particularly concerned with the dynamic response to price variations since, for some goods, this has sometimes been used to infer the presence of addiction. The price elasticity is identified through variation in the...
