Consumption responses to income shocks through lottery winning

Consumption responses to income shocks through lottery winning

We study the effects of lottery winning on consumption spending using newly available household survey data in Singapore. We find strong consumption responses to a transitory income shock via lottery wins. Lottery winners spend about half of their prizes within 12 months of winning. We show that con...

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Bibliographic Details
Main Authors: KIM, Seonghoon, KOH, Kanghyock
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2024
Subjects:
Lottery
Consumption
Marginal propensity to consume
Liquidity constraint
Risk preference
Asian Studies
Behavioral Economics
Health Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/2725
https://ink.library.smu.edu.sg/context/soe_research/article/3724/viewcontent/Consumption_Responses_to_Income_Shocks_through_Lottery_Winning__with___R_R_at.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/2725
https://ink.library.smu.edu.sg/context/soe_research/article/3724/viewcontent/Consumption_Responses_to_Income_Shocks_through_Lottery_Winning__with___R_R_at.pdf

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