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《Journal of Southeast University Philosophy and Social Science Edition》 2005-04
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An economic perspective on the lack of credibility in lottery industry

ZHENG Bei-jun, GU Jian-yao  
Since the sale of its first welfare lottery in 1987, China's lottery industry has made extraordinary achievements. Nowadays,"lottery economy" has become a hot issue of China's economy. Lottery is a special kind of financial certificates. By taking advantage of people’s high aspiration for wealth, it gathers together unemployed capital for public welfare. Credibility is a core factor needed to maintain the existence and development of lottery industry. However, the credibility of lottery industry and even of the whole society has been challenged a great deal by the Xi'an BMW lottery case. This article tries to discuss this issue from the aspects of information dissymmetry and changes in lottery mechanisms. Some suggestions are made for establishing a standard lottery market through informal and formal binding disciplines and their implementation mechanisms in order to maintain lottery’s good credit and create a good atmosphere for the whole society’s “credit lottery economy”.
【CateGory Index】: F832.48
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【Co-references】
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1 ZHANG Yuchao College of Physical Education,China University of Mining and Technology,Xuzhou 221116,China;Study on Legal Systems of Lottery Ticket in China[J];Journal of Capital Institute of Physical Education;2011-01
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