Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/288080 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Economic Surveys [ISSN:] 1467-6419 [Volume:] 37 [Issue:] 4 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2021 [Pages:] 1432-1488
Publisher: 
Wiley, Hoboken, NJ
Abstract: 
The typical gambler loses money but continues to gamble nonetheless. Why? Research from orthodox and behavioral economics, psychology, sociology, and medicine has offered a wide range of possible explanations. This paper reviews these explanations. The evidence is organized according to the degree of rationality assumed and/or found in the studies. This approach allows research from highly distinctive fields to be integrated within a unified framework. Gambling patterns are so highly dispersed that no satisfying one‐fits‐all explanation is possible. The findings suggest that the whole spectrum from rationality to highly destructive irrationality can be found within the gambler population.
Subjects: 
bounded rationality
consumption benefits
gambling
gambling behaviour
irrationality
rationality
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article
Document Version: 
Published Version

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