We estimate the causal effect of wealth on stock market participation using administrative data on Swedish lottery players. A $150,000 windfall gain increases stock ownership probability among pre-lottery non-participants by 12 percentage points, while pre-lottery stock holders are unaffected....

Lottery estimates suggest oversubscribed urban charter schools boost student achievement markedly. But these estimates needn't capture treatment effects for students who haven't applied to charter schools or for students attending charters for which demand is weak. This paper reports estimates...

We exploit lottery wins to investigate the effects of exogenous changes to individuals' income on health care demand in the United Kingdom. This strategy allows us to estimate lottery income elasticities for a range of health care services that are publicly and privately provided. The results...

We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. We find winning a lottery prize modestly reduces labor earnings, with the reduction being immediate, persistent, and similar by age, education, and sex....

Introduction -- Loving to learn -- Science is my playground -- Physics and mathematics -- Las Vegas -- Conquering blackjack -- The day of the lamb -- Card counting for everyone -- Players versus casinos -- A computer that predicts roulette -- An edge at other gambling games -- Wall Street: the...

We examine the housing-market impact of U.S. urban casinos in nearby neighborhoods using data on home-purchase mortgage applications around opening years. Our sample covers 48 new urban casinos opened between 1995 and 2009. We compare changes in the volume of mortgage applications, the average...

Access to legal gambling has expanded in Canada. Casinos can generate both positive and negative local impacts. We analyze the effect of new urban Canadian casinos on nearby neighborhoods in terms of population growth and composition, and housing market outcomes based on more than 40 urban...

In 2003, as part of a lecture series sponsored by the American Gaming Association, Richard LaBrie and Howard Shaffer issued a ‘concept statement’ titled Toward a Science of Gambling Regulation. They stated, “The set of gambling regulations within a jurisdiction represent that...

Die vorliegende Arbeit untersucht, ob bzw. inwiefern die mikroökonomische Theorie geeignet ist, das beobachtbare Verhalten von Individuen in als kompetitiv geltenden Umfeldern zu erklären. Auf Basis eigens erhobener Daten aus dem (professionellen) Sport einerseits und einer in zahlreichen...

"Bethlehem, Pennsylvania, the world headquarters of the Bethlehem Steel Corporation for most of the twentieth century, is now home to an industrial-themed casino. Based on extensive fieldwork and dozens of interviews, From Steel to Slots explores how the global transitions of "casino capitalism"...