Making savers winners
Subtitle: an overview of prize-linked savings products
By: Melissa Schettini Kearney ... [et al.].
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16433; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16433.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] :
Description: "For over three centuries and throughout the globe, people have enthusiastically bought savings products that incorporate lottery elements.  In lieu of paying traditional interest to all investors proportional to their balances, these Prize Linked Savings (PLS) accounts distribute periodic sizeable payments to some investors using a lottery-like drawing where an investor's chances of winning are proportional to one's account balances.  This paper describes these products, provides examples of their use, argues for their potential popularity in the United States -especially to low and moderate income non-savers-and discusses the laws and regulations in the United States that largely prohibit their issuance"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 12/30/2010.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.