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In Search of a Fair Bet in the Lottery
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2004
Although state-operated lotto games have the worst average expected payoffs among common games of chance, because the jackpot can accumulate, the maximum expected payoff is potentially unlimited. It is possible, therefore, that lotto can exhibit a positive expected return. This paper examines...
Persistent link: https://www.econbiz.de/10005545434
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Spreading the Fortune: The Distribution of Lottery Prizes across Countries
Matheson, Victor; Grote, Kent - Department of Economics and Accounting, College of the … - 2009
It has been 15 years since Cook and Clotfelter described the scale economies associated with state-run lotto games in an American Economic Review article entitled “The Peculiar Scale Economies of Lotto.” U.S. states with larger populations are identified as having the ability to offer games...
Persistent link: https://www.econbiz.de/10005545439
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Gambling Policy in the European Union: Monopolies, Market Access, Economic Rents, and Competitive Pressures among Gaming Sectors in the Member States
eadington, william r. - Economics Department, University of Nevada-Reno; … - 2007
constrain competition for gambling services as long as the primary purpose is to protect citizens from unintended negative …
Persistent link: https://www.econbiz.de/10005426892
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VIP-room Contractual System of Macau’s Traditional Casino Industry
eadington, william r.; Wang, Wuyi - Economics Department, University of Nevada-Reno; … - 2007
This study provides a systematic analysis of the VIP-room contractual system of Macau’s traditional casino industry. It examines the system’s historical background, its organizational structure, its operational mechanisms, and its role in Macau’s casino industry. This analysis examines the...
Persistent link: https://www.econbiz.de/10005426907
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Price Setting in the NBA Gambling Market: Tests of the Levitt Model of Sportsbook Behavior
Paul, Rodney J.; Weinbach, Andrew P. - In: International Journal of Sport Finance 3 (2008) 3, pp. 137-145
Levitt (2004) suggested that sportsbooks do not set prices in the NFL to clear markets, as was commonly assumed, but set prices to maximize profits. This paper uses actual betting data from four sportsbooks to test the Levitt (2004) hypothesis in the NBA. For a sample of the 2004-05 to 2006-07...
Persistent link: https://www.econbiz.de/10005427004
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Guest Editor’s Introduction: Sport Finance and Gambling
Humphreys, Brad R. - In: International Journal of Sport Finance 3 (2008) 3, pp. 135-136
Gambling on sports is a big business, and in North America it has evolved during the past few decades from a shady …, quasi-legal activity to a widely accepted recreational activity. As with any big business, gambling on sports has a number … explores several important financial and economic issues related to sports gambling. …
Persistent link: https://www.econbiz.de/10005427027
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Optimal Expectations
Brunnermeier, Markus K.; Parker, Jonathan A. - Woodrow Wilson School of Public and International … - 2002
heterogeneous, leading to gambling. Second, in a consumption-saving problem with stochastic income, agents are both overconfident …
Persistent link: https://www.econbiz.de/10005738447
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Addiction to Gambling.
Bardsley, P. - Department of Economics, Faculty of Business and Economics - 1998
Risk aversion and limited liability can result in a rational to gambling. An addictive episode may be triggered by a …
Persistent link: https://www.econbiz.de/10005587693
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Why Do People Buy Lottery Products?
Faustino, Horácio; Kaiseler, Maria João; Marques, Rafael - ISEG - School of Economics and Management, Department … - 2009
demographic features that help to explain gambling consumption around the world. With a panel data analysis covering 13 years …
Persistent link: https://www.econbiz.de/10005593022
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STATUS, THE DISTRIBUTION OF WEALTH SOCIAL AND PRIVATE ATTITUDES TO RISK.
ROBSON, A.J. - CentER for Economic Research, Universiteit van Tilburg - 1990
Persistent link: https://www.econbiz.de/10005618640