TESTING FOR EFFICIENCY IN LOTTO MARKETS

State-sponsored lotto games, because they are pari-mutuel and because jackpots with no winner are rolled over into the next drawing, present an excellent opportunity to test for market efficiency. Using data from Massachusetts, Kentucky, and Ohio, we investigate bettors' responses and test for weak-form efficiency. Lotto bets do not have positive net expected returns, thus weak-form efficiency exists. To evaluate strong-form efficiency we utilize the concept of a rational expectations equilibrium. We find that in general lotto bettors' decisions to play generate a level of sales that conform to their original forecasts of expected value.     

Back to Hong Kong: return migration or transnational sojourn?

Abstract In this article we reconsider the meaning of return migration in a period of growing transnational practices. In its conventional use, return migration conveys the same sense of closure and completion as the immigration‐assimilation narrative. But in a transnational era, movement is better described as continuous rather than completed. Focus groups held in Hong Kong with middle‐class returnees from Canada reveal that migration is undertaken strategically at different stages of the life cycle. The return trip to Hong Kong typically occurs for economic reasons at the stage of early or mid career. A second move to Canada may occur later with teenage children for educational purposes, and migration at retirement is even more likely when the quality of life in Canada becomes a renewed priority. Strategic switching between an economic pole in Hong Kong and a quality‐of‐life pole in Canada identifies each of them to be separate stations within an extended but unified social field.     

PHYSICIAN RESPONSE TO A MAILED SURVEY AN EXPERIMENT IN TIMING OF PAYMENT

This article reports the results of an experiment in obtainingphysician response to a mailed questionnaire. Each physicianwas eligible for a payment of $20. A randomly selected halfreceived the payment with their initial questionnaire and coverletter; half were told they would receive their payment afterthey completed and returned the questionnaire. The same mailand telephone followup procedures were used for both groups.Overall, prepayment had significant positive effects on responserates. This paper examines these effects in terms of responserates for various specialties, field efficiencies, cost, andrepresentativeness of the sample.     

Statistical Considerations in Social Work Research

Correspondence to David Goda, School of Computing and Information Technology, University of Wolverhampton, Wulfruna Street, Wolverhampton WV1 1SB. Summary Guidelines are presented in an attempt to assist those consideringsubmitting to this Journal papers containing quantitative data.     

The News Media in Children's Political Socialization

The research reported examines the impact of the news mediaas an agent of political socialization on children's politicalknowledge, their attitudes toward political parties and electoralsystems, and their activities relative to politics. Childrennews media use and level of political knowledge function asprimary sources of causal effects for each other. They are consistentlymore important in their effects on the attitudes and types ofparticipation studied in this research than are the parentaland educational system socialization indicators or the structuralvariables of grade and gender.