Habit and long memory in UK lottery sales
McHale, IG and Peel, DA 2010, 'Habit and long memory in UK lottery sales' , Economics Letters, 109 (1) , pp. 7-10.
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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.
|Themes:||Subjects outside of the University Themes|
|Schools:||Schools > College of Business & Law > Salford Business School > Business and Management Research Centre|
|Journal or Publication Title:||Economics Letters|
|Depositing User:||Professor Ian G. McHale|
|Date Deposited:||05 Oct 2011 10:31|
|Last Modified:||29 Oct 2015 00:48|
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