Habit and long memory in UK lottery sales
Journal Article
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
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...
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