Habit and long memory in UK lottery sales

McHale, IG; Peel, DA

Abstract

Long memory processes can occur as a consequence of aggregation over heterogeneous agents. We examine
the UK lottery and, by estimating the level of fractional differencing, find evidence of the long memory
property in lottery sales, a result that has broader implications on the estimation of demand models for
lotteries.

Citation

McHale, I., & Peel, D. Habit and long memory in UK lottery sales. Economics Letters, 109(1), 7-10. https://doi.org/10.1016/j.econlet.2010.07.007

• Journal Article Type: Article
• Deposit Date: Oct 5, 2011
• Journal: Economics Letters
• Print ISSN: 0165-1765
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 109
• Issue: 1
• Pages: 7-10
• DOI: https://doi.org/10.1016/j.econlet.2010.07.007
• Publisher URL: http://dx.doi.org/10.1016/j.econlet.2010.07.007