Estimation of scale economies underlying growth and productivity patterns is typically based on aggregated data, raising questions about the potential for aggregation biases. This paper provides empirical evidence on the existence and patterns of such biases. We use a cost-based model to...

Although gambling is one of the fastest-growing service industries, there have been no studies of total factor productivity (TFP) in this sector. We attempt to fill this gap using establishmentlevel data from the United Kingdom. We also discuss key measurement issues in calculating gambling...

The recent worldwide increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections, and wagering on financial instruments has stimulated an important debate regarding the public policy implications of these activities. Some critical research questions...