Fink, Stephen; Marco, Alan; Rork, Jonathan - In: Applied Economics 36 (2004) 21, pp. 2357-2367
Lottery revenues are often touted as an independent revenue source for states. Using 32 years of state financial data, the fallacy of such thinking is demonstrated. Being the first to control for the self-selection of being a lottery state, it is found that overall tax revenues decline with...