Is Lottery Demand Elasticity a Reliable Marketing Tool? Evidence from a Game Innovation in Greece

International Review of Economics (formerly RISEC), Vol. 53, No. 4, pp. 627-640, December 2006

12 Pages Posted: 25 Nov 2005 Last revised: 10 Dec 2010

See all articles by George A. Papachristou

George A. Papachristou

Aristotle University of Thessaloniki - Department of Economics

Date Written: December 1, 2006

Abstract

In Greece a lotto game has been offered since 1990 whereas a new version was introduced seven years later with a clearly more skewed payoff. This paper aims to analyze whether demand estimates from the original game help explain the subsequent innovation and to assess, in that sense, the reliability of demand estimates as a marketing tool. It thus responds to the fear that lottery demand estimates from transitory prize variations might not be indicative for permanent demand changes such as, for example, an innovation in lottery odds and/or prizes.

Keywords: lotteries, lotto, demand elasticity, pricing, marketing

JEL Classification: D12, L83

Suggested Citation

Papachristou, George A., Is Lottery Demand Elasticity a Reliable Marketing Tool? Evidence from a Game Innovation in Greece (December 1, 2006). International Review of Economics (formerly RISEC), Vol. 53, No. 4, pp. 627-640, December 2006, Available at SSRN: https://ssrn.com/abstract=852244

George A. Papachristou (Contact Author)

Aristotle University of Thessaloniki - Department of Economics ( email )

Thessaloniki, 54124
Greece

HOME PAGE: http://users.auth.gr/~gpapahr

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