English, Article edition: UNDERPRICING IN PUBLIC LOTTERIES: A CRITIQUE OF USER-PAY AND ALL-PAY TARIFFS DAVID SCROGIN

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Bookmark: http://trove.nla.gov.au/version/155887
Physical Description
  • article
Language
  • English

Edition details

Title
  • UNDERPRICING IN PUBLIC LOTTERIES: A CRITIQUE OF USER-PAY AND ALL-PAY TARIFFS
Author
  • DAVID SCROGIN
Physical Description
  • article
Notes
  • "A body of literature spanning from medical ethics to public economics has amassed regarding the rationing of underpriced public resources. This study investigates the effects of price on entry, individual and aggregate expected consumer surplus, and tax revenues in user-pay and all-pay (AP) lotteries. Comparative statics indicate that expected surplus may increase (decrease) as price increases (decreases) if entry is sufficiently responsive though entry in AP lotteries is inelastic at all prices. Further, the lotteries are shown to be outcome equivalent under revenue equivalency. Selected results are evaluated numerically with simulations performed across a broad class of distributions describing individual private values. "("JEL "D45, D61, H42) Copyright (c) 2007 Western Economic Association International.
  • RePEc:bla:ecinqu:v:47:y:2009:i:3:p:500-511
Language
  • English
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