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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

Prize and Risk-Taking Strategy in Tournaments : Evidence from Professional Poker Players

Lee, Jungmin - 2004

television game show World Poker Tour as a natural experiment. The results show that professional players strategically choose …

Persistent link: https://www.econbiz.de/10010262085

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

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

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

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

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

Do financial bonuses to employees reduce their absenteeism? Outcome of a lottery

Hassink, Wolter H.J.; Koning, Pierre - 2005

This paper investigates the effectiveness of a monthly lottery in reducing sick leave among workers in a manufacturing firm. Conditions of participation are not having reported sick in the previous three months and not having won the lottery earlier. It turns out that the lottery results in a...

Persistent link: https://www.econbiz.de/10010274168

Splitting Tournaments

Leuven, Edwin; Oosterbeek, Hessel; van der Klaauw, Bas - 2010

In this paper we investigate how heterogeneous agents choose among tournaments with different prizes. We show that if the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over the tournaments, these may include, for example, a...

Persistent link: https://www.econbiz.de/10010274585

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