Examines the issue of higher tax rates leads to a larger market share for nonprofit hospitals by using a panel data set. Finds that higher state corporate income and local property tax rates lead to a greater market share for nonprofit hospitals.

Virtually all lottery agencies offer a variety of games to suit the tastes of players in an attempt to maximize revenue to the government. Using the UK National Lottery, which offers a variety of on-line and scratchcard games, the extent to which there is substitution or complementarity between...

This study examines the simultaneous response of both stock and bond market returns to changes in the CBOT 30-day federal funds futures rate. It is found that changes in the federal funds futures rate are negatively related to both stock and bond returns. It is also found that positive and...

Addresses the issue of substitution among the two most prominent forms of gambling, lotteries and thoroughbred racing. Focuses on the impact of lotteries on the demand for wagering at thoroughbred racetracks because thoroughbred horseracing generates more tax revenue than other non-lottery types...

This paper examines sales patterns in the first three years of the UK National Lottery in order to estimate price elasticity of demand. Our long-run estimate is very close to the value of minus one required for revenue maximization. We find that the UK Government has succeeded in setting a...

Studies data to estimate demand functions for state-operated lottery games. Evaluates the extent to which state lottery agencies have structured their lotto games so as to maximize tax revenues.

This paper examines the response of financial markets to consumer confidence announcements during 1980-93. Several hypotheses are tested to examine the impact of consumer confidence announcements on the conditional mean and the conditional volatility of stock, bond and foreign exchange prices....

The concept of rational expectations has typically been assumed, without testing, in the analysis of consumer demand and market efficiency in betting markets, including betting on lottery games. Lottery games offer an excellent opportunity to test how participants process the information that is...