What exactly does it do for you? Does it have any negative impact? Does it increase the chance for say earth quakes? Does it make you more likely to make missiles? Or is it only for booms?

Qz would be the perfect person to answer!

Decreases chance of quakes I think but in my experience it did very little for me

Increases explore gains too.

qz won't answer.

you get more positivive booms, less neg booms, better explore gains, etc. there's thread at q&a or strat rooom about luck.

Well Marshal, that's what everyone THINKS it does. But does it really give you more positive booms and less negative ones? Random events are random after all.

I went 8% luck last set and had more earthquakes than the previous 15 years combined.

I used luck one set and seemed to have just as many negative as positive events.

nuketon: cause its luck and booms (neg and pos) and eqs are random so player can't know for sure if indy boom he/she got was due luck bonus or not and same thing with explore rates. luck might help but determining it requires alot data but 2 months even in ffa is too short time (via ffa alpha some1 might figure how much it actually helps).

i use luck when i all explore rep casher- you spend a hundred turns exploring at 8 acres per- you explore for 910 acres. this is where i noticed luck, at least.

has been quite a while since i did it, though

I use it a good bit in FFA for missile production

Not enough data from just my one set of playing with it a few sets back but I didn't notice any difference in positive or negative events.

I did see a positive effect on exploring and I think also on market times. Playing as a demo later in the set at the point where I whould expect an average of 6 acres/explore, I saw an overall of 7+ acres per explore when I had 8.8% Luck (22 eight-point bonuses at 0.4% each).

I think this may be due to rounding up, 1.088 * 6 = 6.528 rounds up to 7 acre/explore average.

Ingame description of Luck:
Luck is the subtlest of the permanent bonuses. Investing in luck will lead to better explore returns, greater missile production, and lower market times. In addition, lucky countries have a greater chance of getting spy ops against countries with better spy networks and a greater chance of successfully attacking when oversending.