This article uses voting and sales data from the South Carolina Education Lottery to test whether... more This article uses voting and sales data from the South Carolina Education Lottery to test whether the vote for a new lottery is driven by latent demand for lottery products or whether it reflects free-riding behavior or other public finance considerations. Including the predicted component of the lottery vote adds no explanatory power to a lottery sales regression. Given the dissimilarity of coefficients between vote and sales regressions, we conclude that there are significant differences in individuals' voting and buying behaviors. We find that the lottery vote is significantly higher in counties with underperforming schools and in counties along the state's borders, where cross-border shopping is an issue. We conclude that much of the variation in the vote is driven by these public finance issues. Finally, we discover that creation of the South Carolina lottery drew substantial revenues from North Carolina shoppers and stemmed an outflow of revenue to Georgia.
Outbreaks of dangerous, preventable diseases have drawn attention to individuals who fail to obta... more Outbreaks of dangerous, preventable diseases have drawn attention to individuals who fail to obtain available and effective vaccines. This classroom experiment demonstrates the basic cost-benefit trade...
The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed ... more The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed viewers to follow the antics of Jerry, George, Elaine, and Kramer as they moved through their daily lives. What makes Seinfeld so appropriate for use in economics courses is its simplicity. Using clips from that show and from other television shows and movies makes economic concepts come alive for students. Ultimately, students will start seeing economics everywhere: in other shows, in popular music, and—most important—in their ...
The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate... more The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate significant cross-border shopping, especially in counties bordering North Carolina (NC), which created its own lottery in 2006. We examine the impact of the North Carolina Education Lottery (NCEL) on sales of lottery tickets in South Carolina (SC). We find that the introduction of the NCEL coincides with a significant drop in lottery sales in SC counties bordering NC. By creating its own lottery, NC successfully redirected the flow of lottery ...
The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate... more The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate significant cross-border shopping, especially in counties bordering North Carolina (NC), which created its own lottery in 2006. We examine the impact of the North Carolina Education Lottery (NCEL) on sales of lottery tickets in South Carolina (SC). We find that the introduction of the NCEL coincides with a significant drop in lottery sales in SC counties bordering NC. By creating its own lottery, NC successfully redirected the flow of lottery ...
In August of 1994, Jerod proposed to Heather and gave her a diamond engagement ring that cost him... more In August of 1994, Jerod proposed to Heather and gave her a diamond engagement ring that cost him $9,033.1 By October of 1995, Jerod had decided to end the engagement and asked for the engagement ring back. 2 Heather refused to return the ring, and Jerod filed a lawsuit the following April.
The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed ... more The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed viewers to follow the antics of Jerry, George, Elaine, and Kramer as they moved through their daily lives. What makes Seinfeld so appropriate for use in economics courses is its simplicity. Using clips from that show and from other television shows and movies makes economic concepts come alive for students. Ultimately, students will start seeing economics everywhere: in other shows, in popular music, and—most important—in their ...
The Quarterly Review of Economics and Finance, 2001
If you experience problems downloading a file, check if you have the proper application to view i... more If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large. ... As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it. ... Article provided by Elsevier in its journal The Quarterly Review of Economics and Finance. ... No references listed on IDEAS You can help add ...
Median household 1-year-ahead consumer price inflation forecasts generated by the Michigan survey... more Median household 1-year-ahead consumer price inflation forecasts generated by the Michigan survey of US households and the Melbourne Institute survey of Australian households are tested for accuracy, bias and efficiency, and compared with naïve forecasts, forecasts derived from financial market phenomena, and forecasts of professional economists. In the post-1993: 1 period which encompasses the Melbourne Institute's 2006 revision of the Australian series, both countries' household forecasts are unbiased, ...
This study examines the distributional impact of three types of lottery games operated by the Sou... more This study examines the distributional impact of three types of lottery games operated by the South Carolina Education Lottery (SCEL). We find significant sales variation by game type across both age and race. We also find each of the three types to be regressive, but with substantial differences in the degree of regressivity across games.
Abstract This article uses voting and sales data from the South Carolina Education Lottery to tes... more Abstract This article uses voting and sales data from the South Carolina Education Lottery to test whether the vote for a new lottery is driven by latent demand for lottery products or whether it reflects free-riding behavior or other public finance considerations. Including the predicted component of the lottery vote adds no explanatory power to a lottery sales regression.
We find evidence indicating cointegration between each of three survey measures of inflation expe... more We find evidence indicating cointegration between each of three survey measures of inflation expectations and actual inflation. Using Johansen’s framework, we confirm weak-form rationality for each survey, and estimate significant speeds of adjustment for both inflation and inflation expectations.
This article uses voting and sales data from the South Carolina Education Lottery to test whether... more This article uses voting and sales data from the South Carolina Education Lottery to test whether the vote for a new lottery is driven by latent demand for lottery products or whether it reflects free-riding behavior or other public finance considerations. Including the predicted component of the lottery vote adds no explanatory power to a lottery sales regression. Given the dissimilarity of coefficients between vote and sales regressions, we conclude that there are significant differences in individuals' voting and buying behaviors. We find that the lottery vote is significantly higher in counties with underperforming schools and in counties along the state's borders, where cross-border shopping is an issue. We conclude that much of the variation in the vote is driven by these public finance issues. Finally, we discover that creation of the South Carolina lottery drew substantial revenues from North Carolina shoppers and stemmed an outflow of revenue to Georgia.
Outbreaks of dangerous, preventable diseases have drawn attention to individuals who fail to obta... more Outbreaks of dangerous, preventable diseases have drawn attention to individuals who fail to obtain available and effective vaccines. This classroom experiment demonstrates the basic cost-benefit trade...
The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed ... more The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed viewers to follow the antics of Jerry, George, Elaine, and Kramer as they moved through their daily lives. What makes Seinfeld so appropriate for use in economics courses is its simplicity. Using clips from that show and from other television shows and movies makes economic concepts come alive for students. Ultimately, students will start seeing economics everywhere: in other shows, in popular music, and—most important—in their ...
The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate... more The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate significant cross-border shopping, especially in counties bordering North Carolina (NC), which created its own lottery in 2006. We examine the impact of the North Carolina Education Lottery (NCEL) on sales of lottery tickets in South Carolina (SC). We find that the introduction of the NCEL coincides with a significant drop in lottery sales in SC counties bordering NC. By creating its own lottery, NC successfully redirected the flow of lottery ...
The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate... more The South Carolina Education Lottery (SCEL) began selling tickets in 2001. Early studies indicate significant cross-border shopping, especially in counties bordering North Carolina (NC), which created its own lottery in 2006. We examine the impact of the North Carolina Education Lottery (NCEL) on sales of lottery tickets in South Carolina (SC). We find that the introduction of the NCEL coincides with a significant drop in lottery sales in SC counties bordering NC. By creating its own lottery, NC successfully redirected the flow of lottery ...
In August of 1994, Jerod proposed to Heather and gave her a diamond engagement ring that cost him... more In August of 1994, Jerod proposed to Heather and gave her a diamond engagement ring that cost him $9,033.1 By October of 1995, Jerod had decided to end the engagement and asked for the engagement ring back. 2 Heather refused to return the ring, and Jerod filed a lawsuit the following April.
The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed ... more The television show Seinfeld aired from 1990 through 1999. As a “show about nothing,” it allowed viewers to follow the antics of Jerry, George, Elaine, and Kramer as they moved through their daily lives. What makes Seinfeld so appropriate for use in economics courses is its simplicity. Using clips from that show and from other television shows and movies makes economic concepts come alive for students. Ultimately, students will start seeing economics everywhere: in other shows, in popular music, and—most important—in their ...
The Quarterly Review of Economics and Finance, 2001
If you experience problems downloading a file, check if you have the proper application to view i... more If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large. ... As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it. ... Article provided by Elsevier in its journal The Quarterly Review of Economics and Finance. ... No references listed on IDEAS You can help add ...
Median household 1-year-ahead consumer price inflation forecasts generated by the Michigan survey... more Median household 1-year-ahead consumer price inflation forecasts generated by the Michigan survey of US households and the Melbourne Institute survey of Australian households are tested for accuracy, bias and efficiency, and compared with naïve forecasts, forecasts derived from financial market phenomena, and forecasts of professional economists. In the post-1993: 1 period which encompasses the Melbourne Institute's 2006 revision of the Australian series, both countries' household forecasts are unbiased, ...
This study examines the distributional impact of three types of lottery games operated by the Sou... more This study examines the distributional impact of three types of lottery games operated by the South Carolina Education Lottery (SCEL). We find significant sales variation by game type across both age and race. We also find each of the three types to be regressive, but with substantial differences in the degree of regressivity across games.
Abstract This article uses voting and sales data from the South Carolina Education Lottery to tes... more Abstract This article uses voting and sales data from the South Carolina Education Lottery to test whether the vote for a new lottery is driven by latent demand for lottery products or whether it reflects free-riding behavior or other public finance considerations. Including the predicted component of the lottery vote adds no explanatory power to a lottery sales regression.
We find evidence indicating cointegration between each of three survey measures of inflation expe... more We find evidence indicating cointegration between each of three survey measures of inflation expectations and actual inflation. Using Johansen’s framework, we confirm weak-form rationality for each survey, and estimate significant speeds of adjustment for both inflation and inflation expectations.
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