Furthermore, it can be deduced from equation ( 11 ) that a rise in wages might also reduce consumer demand for lottery consumption; however, due to the intertemporal substitution elasticity ρ l < 1 , the impact of wage increases may not be significant, particularly when lim ρ → 0 , as wage variations have little to no effect on lottery demand.
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Impact of online lottery sales prohibition on the structure of lottery consumers: A time cost perspective in China.
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