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U.S. consumer demand for prize-linked savings: New evidence on a new product

Tufano, P; De Neve, J-E; Maynard, N; (2011) U.S. consumer demand for prize-linked savings: New evidence on a new product. Economics Letters , 111 (2) pp. 116-118. 10.1016/j.econlet.2011.01.019.

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Abstract

We report on the potential American demand for prize-linked savings, a savings account that also awards prizes. Our survey data suggests significant interest among individuals with little actual savings, without regular saving habits, who play lotteries extensively, and are optimistic. © 2011 Elsevier B.V.

Type: Article
Title: U.S. consumer demand for prize-linked savings: New evidence on a new product
DOI: 10.1016/j.econlet.2011.01.019
Keywords: Behavioral finance, Consumer finance, Prize-linked savings
UCL classification: UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences
UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Political Science
URI: http://discovery.ucl.ac.uk/id/eprint/1359516
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