anonymous
  • anonymous
Reference Lecture 20: more than a question for the board here but a comment. As for an empirical look at Lottery spending, the easiest way to look at them is to follow the dollars. Where are most of the tickets bought/sold. Convenience or Liquor Stores? So perhaps all that you are really getting is a substitution effect. I’ve got $8.00 I’m going to spend on liquor tonight. I’m willing to spend $2.00 on some lottery tickets and if I win then I’m going to buy a 12 pack and if I lose then I will still have enough for a 6 pack. Or, more like, I already bought a 6 pack of beer and I’m going
OCW Scholar - Principles of Microeconomics
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anonymous
  • anonymous
Reference Lecture 20: more than a question for the board here but a comment. As for an empirical look at Lottery spending, the easiest way to look at them is to follow the dollars. Where are most of the tickets bought/sold. Convenience or Liquor Stores? So perhaps all that you are really getting is a substitution effect. I’ve got $8.00 I’m going to spend on liquor tonight. I’m willing to spend $2.00 on some lottery tickets and if I win then I’m going to buy a 12 pack and if I lose then I will still have enough for a 6 pack. Or, more like, I already bought a 6 pack of beer and I’m going
OCW Scholar - Principles of Microeconomics
schrodinger
  • schrodinger
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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