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This paper examines sales patterns in the first three years of the UK National Lottery in order to estimate price elasticity of demand. Our long-run estimate is very close to the value of minus one required for revenue maximization. We find that the UK Government has succeeded in setting a framework for the National Lottery that maximizes turnover and therefore the amount of money available for both Exchequer revenue and "Good Causes."
Forrest et al. (Fri,) studied this question.