Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/74662
Authors: 
Johansen, Kathrin
Singer, Nico
Year of Publication: 
2012
Series/Report no.: 
Thünen-Series of Applied Economic Theory 129
Abstract: 
This paper analyses the relationship between lottery tickets and common stocks using cross sectional household data for the U.K. and Germany. In contrast to a previous empirical finding that predicts a complementary effect and nonexpected utility models that predict a substitutional effect, we find that lottery tickets purchases and stock market investments are independent.
JEL: 
G11
D12
Document Type: 
Working Paper

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