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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Habit and long memory in UK lottery sale
AU - McHale, I
AU - Peel, David
PY - 2010/10
Y1 - 2010/10
N2 - 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.
AB - 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.
KW - Long memory
KW - Fractional integration
KW - Lottery
U2 - 10.1016/j.econlet.2010.07.007
DO - 10.1016/j.econlet.2010.07.007
M3 - Journal article
VL - 109
SP - 7
EP - 10
JO - Economics Letters
JF - Economics Letters
SN - 0165-1765
IS - 1
ER -