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On skewness of return and buying more than one ticket in a lottery

Peel, D and Law, D (2009) On skewness of return and buying more than one ticket in a lottery. Applied Economics Letters, 16 (10). pp. 1350-4851. ISSN 1350-4851

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    Abstract

    The purpose in this article is to demonstrate that buying more than one ticket in a lottery is readily explicable in models of utility that permit gambling at actuarially unfair odds. However, contrary to popular view, we show this choice cannot be explained in terms of a variance–skew trade-off.

    Item Type: Article
    Journal or Publication Title: Applied Economics Letters
    Subjects: UNSPECIFIED
    Departments: Lancaster University Management School > Economics
    ID Code: 45568
    Deposited By: ep_importer_pure
    Deposited On: 11 Jul 2011 19:34
    Refereed?: Yes
    Published?: Published
    Last Modified: 09 Apr 2014 22:33
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/45568

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