We show that prospect theory offers a rich theory of casino gambling, one that captures several features of actual … gambling behavior. First, we demonstrate that, for a wide range of preference parameter values, a prospect theory agent would …: at the moment he enters a casino, the agent plans to follow one particular gambling strategy; but after he starts playing …

We present an empirical test for the addictiveness of lottery gambling. To distinguish state dependence from serial … correlation, we exploit an exogenous shock to local market consumption of lottery gambling. We use the sale of a winning ticket in … addictiveness in lottery gambling. They also highlight the potential effectiveness of innovations and advertising campaigns designed …

markets in fact have a long history in many Western countries. This paper traces the operation of political futures markets …

, consumers are persistent in their habit of buying lottery tickets at the "lucky" store; however, as the shock to total gambling … dissipates, there is no evidence that lottery gambling itself is habit forming or addictive …

This paper reviews the government role in the legalized gambling sector and addresses some of the major issues relevant … lotteries, and Native American casinos. The paper also includes a discussion of the growing internet gambling industry. In …

in economic history. In the seventeenth and eighteenth centuries it played a major role in raising funds to finance …