Narrow search
Showing 1 - 10 of 76
Cover Image
Gambling and the use of credit: an individual and household level analysis
Brown, Sarah; Dickerson, Andy; McHardy, Jolian; Taylor, Karl - 2010
We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the … Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling and the use of credit are shown to be positively correlated at the … household level. While both the incidence and amount of gambling vary according to household income, the positive association …
Persistent link: https://www.econbiz.de/10010271301
Cover Image
Prize and Risk-Taking Strategy in Tournaments : Evidence from Professional Poker Players
Lee, Jungmin - 2004
This study examines whether people optimally respond to prize incentives for risk taking in tournaments. I exploit the television game show World Poker Tour as a natural experiment. The results show that professional players strategically choose the degree of risk taking depending on the...
Persistent link: https://www.econbiz.de/10010262085
Cover Image
Explaining the favorite-longshot bias: Is it risk-love or misperceptions?
Snowberg, Erik; Wolfers, Justin - 2010
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning - longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet...
Persistent link: https://www.econbiz.de/10010269869
Cover Image
Can we measure individual risk attitudes in a survey?
Ding, Xiaohao; Hartog, Joop; Sun, Yuze - 2010
We combine a survey and an experiment with real pay-out among Peking University students to measure and validate individual risk attitudes. The experiment involves choosing between a cash payment and playing a lottery. The survey questions ask for the reservation price of a hypothetical lottery...
Persistent link: https://www.econbiz.de/10010269679
Cover Image
Incentive effects on risk attitude in small probability prospects
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental investigations. This may however raise an issue of sequentiality of effects as later choices may be influenced by earlier ones. This paper reports instead between-subject results on the...
Persistent link: https://www.econbiz.de/10010277023
Cover Image
Money and mental wellbeing: a longitudinal study of medium-sized lottery wins
Gardner, Jonathan; Oswald, Andrew J. - 2006
One of the famous questions in social science is whether money makes people happy. We offer new evidence by using longitudinal data on a random sample of Britons who receive medium-sized lottery wins of between £1000 and £120,000 (that is, up to approximately U.S. $200,000). When compared to...
Persistent link: https://www.econbiz.de/10010326728
Cover Image
Estimating the Effect of Income on Health and Mortality Using Lottery Prizes as Exogenous Source of Variation in Income
Lindahl, Mikael - 2002
A vast literature has established a strong positive association of income with health status and a negative association with mortality. This paper studies the effects of income on health and mortality, using only the part of income variation that is due to a truly exogenous factor: the monetary...
Persistent link: https://www.econbiz.de/10010262805
Cover Image
Competing approaches to forecasting elections: economic models, opinion polling and prediction markets
Leigh, Andrew; Wolfers, Justin - 2006
We review the efficacy of three approaches to forecasting elections: econometric models that project outcomes on the basis of the state of the economy; public opinion polls; and election betting (prediction markets). We assess the efficacy of each in light of the 2004 Australian election. This...
Persistent link: https://www.econbiz.de/10010267283
Cover Image
Winning big but feeling no better? The effect of lottery prizes on physical and mental health
Apouey, Bénédicte; Clark, Andrew E. - 2010
We use British panel data to determine the exogenous impact of income on a number of individual health outcomes: general health status, mental health, physical health problems, and health behaviors (drinking and smoking). Lottery winnings allow us to make causal statements regarding the effect...
Persistent link: https://www.econbiz.de/10010269573
Cover Image
The effects of lottery prizes on winners and their neighbors: Evidence from the Dutch Postcode Lottery
Kuhn, Peter; Kooreman, Peter; Soetevent, Adriaan R.; … - 2010
Each week, the Dutch Postcode Lottery (PCL) randomly selects a postal code, and distributes cash and a new BMW to lottery participants in that code. We study the effects of these shocks on lottery winners and their neighbors. Consistent with the life-cycle hypothesis, the effects on winners'...
Persistent link: https://www.econbiz.de/10010269872