Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/58354
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dc.contributor.authorNyman, John A.en_US
dc.date.accessioned2012-06-12T11:27:44Z-
dc.date.available2012-06-12T11:27:44Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/58354-
dc.description.abstractAlthough gambling is primarily an economic activity, no single theory of the demand for gambles has gained wide-spread acceptance among economists. This paper proposes a simple model of the demand for gambling that is based on the standard economic assumptions that (1) resources are scarce and (2) consumer’s utility increases with income at a decreasing rate. This model has the advantages that (1) it is based solely on changes in income, (2) is potentially applicable to most consumers, (3) preserves the assumption of diminishing marginal utility of income, (4) is consistent with the insurance-buying gambler, and (5) has intuitive appeal.en_US
dc.language.isoengen_US
dc.publisher|aUniv. of Minnesota, Dep. of Economics, Center for Economic Research |cMinneapolis, Minn.en_US
dc.relation.ispartofseries|aMinnesota Working Papers / Center for Economic Research, Department of Economics, University of Minnesota |x322en_US
dc.subject.jelD81en_US
dc.subject.jelD11en_US
dc.subject.ddc330en_US
dc.subject.keywordgamblingen_US
dc.subject.keyworddemand for gamblesen_US
dc.subject.keywordexpected utility theoryen_US
dc.titleA theory of demand for gamblesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn505078791en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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