Powermarkets: Transferring Systematic Risk to Lottery Players
6 Pages Posted: 22 Jun 2000
Date Written: May 2000
Abstract
State lottery prizes are currently independent of all financial markets. If States made these prizes positively correlated with the stock market, financial risk would be transferred to lottery ticket holders. This would allow States to risklessly increase their lottery profits.
JEL Classification: H27, G18
Suggested Citation: Suggested Citation
Miller, James D. and Morey, Matthew R., Powermarkets: Transferring Systematic Risk to Lottery Players (May 2000). Available at SSRN: https://ssrn.com/abstract=228629 or http://dx.doi.org/10.2139/ssrn.228629
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