Does “lottery culture” affect household financial decisions? Evidence from China

Dongmei Cao; Dan Wang; Yujia Liao; Qing Liu

PLOS ONE · 2022-10-14
Research article · Version of record · CC BY 4.0 · 5,424 words

Original source: Volume 17 · Issue 10 · e0275717

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Title: Does “lottery culture” affect household financial decisions? Evidence from China
Human authorship: Dongmei Cao; Dan Wang; Yujia Liao; Qing Liu
Source: Complete manuscript edition 2026-10-29
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Original authors / creators: Dongmei Cao; Dan Wang; Yujia Liao; Qing Liu
Original publication: PLOS ONE · Public Library of Science · 2022-10-14
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doi:10.1371/journal.pone.0275717
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Evidence limits: Observational 2017 China Household Finance Survey analysis with 29,838 retained observations and a province-level lottery-sales proxy, not family offices. Ecological attribution and residual confounding limit causal interpretation. The displayed diversity formula and prose interpretation are in tension, and robustness prose reverses formal/informal directions; these unresolved source issues preclude unqualified use of affected estimates.
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