Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/58354 
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dc.contributor.authorNyman, John A.en
dc.date.accessioned2012-06-12T11:27:44Z-
dc.date.available2012-06-12T11:27:44Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aUniversity of Minnesota, Center for Economic Research |cMinneapolis, MNen
dc.relation.ispartofseries|aDiscussion Paper |x322en
dc.subject.jelD81en
dc.subject.jelD11en
dc.subject.ddc330en
dc.subject.keywordgamblingen
dc.subject.keyworddemand for gamblesen
dc.subject.keywordexpected utility theoryen
dc.titleA theory of demand for gambles-
dc.typeWorking Paperen
dc.identifier.ppn505078791en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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