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This study aims to investigate the impact of local windfall gains from the Spanish Christmas lottery on household consumption behavior.
Abstract
Purpose
This study aims to investigate the impact of local windfall gains from the Spanish Christmas lottery on household consumption behavior.
Design/methodology/approach
The study applies differences-in-differences to assess permanent income hypothesis (PIH) validity, examining pre- and postlottery consumption effects. Additionally, it also uses an instrumental variable regression, using the lottery shock as an instrument for total expenditures, to estimate the Engel curves.
Findings
The paper finds a PIH violation; households in winning region notably increase consumption on durable and nondurable goods compared to nonwinning ones. Moreover, durable goods consumption is responsive to lottery winnings, while nondurable goods consumption are unit-elastic to expenditure shocks.
Originality/value
To the best of the author’s knowledge, this is the first paper analyzing the effects of winning regions of the Spanish Christmas lottery in all types of consumption goods, testing its consequences in the PIH and estimating its effects in the Engel curves.
Details
Keywords
Seda Sökmen and Aslı Bendenay Çapa
This study aims to guide travel agencies to adapt their services to the expectations of digital nomads and to create new packages.
Abstract
Purpose
This study aims to guide travel agencies to adapt their services to the expectations of digital nomads and to create new packages.
Design/methodology/approach
This study, which is undertaken with the social constructivism approach, is designed as a case study. Secondary data on Remote Year as the case, experiences were obtained within the Trustpilot application. Four hundred and eighty-seven useable comments made between 2016, the year of its establishment, and 2024 were accepted as documents. These data were supported by interviews.
Findings
The findings of the study basically identify that the services provided by RY provide physical, social and psychological support to the digital nomad and are therefore preferred.
Originality/value
This study attempts to address the lack of supply-side studies in the digital nomadism literature. The concept of NomadEase was introduced to the literature and the need for entrepreneurs to manage physical, social and psychological resources together and in harmony was emphasized.
Details