Substitute effects between Lotto and Big Lotto in Taiwan

Authors: Lin, Chin-Tsai; Lai, Chien-Hua

Source: Applied Economics Letters, Volume 13, Number 10, 15 August 2006 , pp. 655-658(4)

Publisher: Routledge, part of the Taylor & Francis Group

Buy & download fulltext article:

Price: $50.43 plus tax (Refund Policy)

Abstract:

Lotto was inaugurated in January 2002 and immediately became a popular activity in Taiwan. The purpose of this investigation is to examine the effective price elasticity of Big Lotto and the substitute effects between Lotto (6/42) and Big Lotto (6/49). The analytical results can provide suggestions to the Taipei Bank on ways to improve lottery sales. The empirical findings of investigation include: (1) no significant substitutive or complementary relationships exist between Big Lotto and Lotto in Taiwan (2) the effective price elasticity of Big Lotto is −0.145, Taipei Bank can increase the revenue gained from Big Lotto by increasing the effective price.

Document Type: Research article

DOI: http://dx.doi.org/10.1080/13504850500401858

Affiliations: 1: Graduate School of Management, Ming Chuan University, Taipei 111, Taiwan, ROC

Publication date: 2006-08-15

More about this publication?