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How to solve the St Petersburg Paradox in Rank-Dependent Models ?
Pfiffelmann, Marie - Laboratoire de Recherche en Gestion (LaRGE), Institut … - 2007
many limitations. In that framework, CPT fails to accommodate both gambling and insurance behavior. We suggested to replace …
Persistent link: https://www.econbiz.de/10005509732
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Multi-unit Ownership in Franchising: Evidence from the Fast-Food Industry in Texas
Kalnins, Arturs; Lafontaine, Francine - In: RAND Journal of Economics 35 (2004) 4, pp. 747-761
Using data on all restaurants opened in Texas between 1980 and 1995 by seven large U.S. fast-food chains, we examine the extent of multi-unit ownership among franchisees and analyze how franchisors allocate the ownership of new units. We show that franchisees with nearby units are much more...
Persistent link: https://www.econbiz.de/10005551288
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Social context and the utility of wealth: Addressing the Markowitz challenge
Coelho, Philip R. P.; McClure, James E. - Department of Economics, Ball State University - 1996
selection: peer wealth, and status. Our specification yields testable implications about gambling, insuring and peer selection …
Persistent link: https://www.econbiz.de/10005557833
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Business Profitability and Social Profitability: Evaluating Industries with Externalities, The Case Casinos.
Grinols, Earl L.; Mustard, David B. - EconWPA - 2005
Casino gambling is a social issue, because in addition to the direct benefits to those who own and use casinos … externalities generated by casinos. Lastly, it corrects many prevalent errors in the debate over the economics of casino gambling. …
Persistent link: https://www.econbiz.de/10005561010
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Demand for Lottery Products: A Cross-Country Analysis
Kaizeler, Maria João; Faustino, Horácio C. - ISEG - School of Economics and Management, Department … - 2008
Varieties of lottery games are played regularly in more than half of the world’s countries. When considering the probability of winning a lottery jackpot, we have a sense of the illogicality in buying a lottery ticket. This begs the question, why do people buy lottery products? This paper...
Persistent link: https://www.econbiz.de/10005628397
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On the Distribution on Lotto.
Lim, F.W. - Research School of Pacific and Asian Studies, College … - 1995
Persistent link: https://www.econbiz.de/10005630828
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Tote arbitrage and lock opportunities in racetrack betting
Edelman, David; O'Brian, Nigel - In: The European Journal of Finance 10 (2004) 5, pp. 370-378
A game-theoretic approach to the investigation of arbitrage opportunities based on combinations of exotic wagers for the same event is described. This situation is also known as a 'lock' or 'Dutch Book'. The technique is applied to recent totalizator data from Australian thoroughbred races. It...
Persistent link: https://www.econbiz.de/10005471902
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International Confidence in Italian Economy. A Spread and Gambling Analysis
MURGEA, Aurora - In: Timisoara Journal of Economics and Business 8 (2015) 1s, pp. 70-89
Gambling is an ancient human activity with a prevalent position nowadays both as a social entertainment activity and as … a way to gain money effortless. Every country has its specific pattern in gambling determined both by its cultural and …, annual variation of GDP or unemployment were previously proved to be connected with the gambling industry. The aim of this …
Persistent link: https://www.econbiz.de/10011188975
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Cumulative prospect theory and gambling
Cain, M; Law, D; Peel, D - Department of Economics, Management School - 2005
Whilst Cumulative Prospect theory (CPT) provides an explanation of gambling on longshots at actuarially unfair odds, it … outcomes observed in gambling markets. …
Persistent link: https://www.econbiz.de/10011195982
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The Sensitivity of Findings of Expected Bookmaker Profitability
Krieger, Kevin; Fodor, Andy; Stevenson, Greg - In: Journal of Sports Economics 14 (2013) 2, pp. 186-202
Levitt demonstrates that, contrary to conventional wisdom, sports books may not try to balance the money wagered on the sides of a game but instead exploit preferences of bettors in order to maximize expected profits. Levitt’s findings are based on unique data from a wagering contest of...
Persistent link: https://www.econbiz.de/10011139191