Resumen de The income elasticity of lottery revisited: a worldwide perspective
Levi Pérez Carcedo, Álvaro Muñiz Fernández
Using panel data information from The WLA Global Lottery Data Compendium this paper estimates aggregate demand functions for lottery tickets in order to examine specific world region differences in the income elasticity of lottery. The analysis uses a panel data quantile regression approach. The estimated elasticities are compared across income quartiles and world regions. The results provide evidence that a significant variation in the income elasticities across both geographic areas and the income distribution exists. Also, a clear heterogeneity in the incidence of lottery expenditures is observed. Overall, it is found that lottery is a normal good.
