Desierto, Desiree A.; Nye, John V. C.; Pamintuan, Jema M. - 2011 - Version: May 2, 2011
We show how cheating in illegal gambling can be sustained in equilibrium, even when gamblers are aware of it. Not only is cheating profit-maximizing for operators, but it can also be utility-maximizing if it provides gamblers the opportunity to engage in other related activities that generate...