, but are, at best, weakly correlated. Third, WTA and WTP strongly relate to other aspects of risk preferences. The …

risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …: first, for a risk-averse individual without a bequest motive, marginal WTP for survival does increase with the level of risk … initial risk on WTP for survival is reversed: the higher initial risk the lower the value of a statistical life. …

Although risk aversion has been used in economic models for over 275 years, the past few decades have shown how higher … order risk attitudes are also quite important. A behavioral approach to defining such risk attitudes was developed by … lattices can be extended in order to develop a better understanding of higher order risk attitudes. …

This paper investigates the effect of economic policy uncertainty (EPU) on gambling activity in China. Based on a … data on lottery sales in Chinese provinces to estimate the short- and long-run effect of EPU on gambling. Our results … suggest that EPU has a significant positive effect on gambling in the short run. In addition, we find that this positive …

The paper proposes a simple and innovative methodology for measuring the incidence of gambling expenditure in countries … merging data on the geographical location of gambling outlets, together with residents' socio-economic and demographic … results and yields a measure of -0.42, which implies that the implicit tax associated with gambling is highly regressive. …

outlets in Israel for two years (2015-2016), I find that gambling revenue spikes at social security paydays. The estimation …

observation refers to a choice between a safe option and a binary risk of winning or losing the game. Our setting offers a real …

this phenomenon focus on rational gamblers who overbet longshots due to risk-love. The competing behavioral explanations … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. -- pricing under risk ; probability …