The Oxford Handbook of the Economics of Gambling

Hardcover | November 18, 2013

EditorLeighton Vaughan Williams, Donald S. Siegel

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There is growing interest among academics and policymakers in the economics of gambling, which has been stimulated by major regulatory and tax changes in the U.S., U.K. Continental Europe, Asia, Australia and elsewhere. Unfortunately, there is no comprehensive source of path-breaking researchon this topic. To fill this gap, we commissioned chapters from leading economists on all aspects of gambling research. Topics covered include the optimal taxation structure for various forms of gambling, factors influencing the demand and supply of gambling services, forecasting of gambling trends, regulation of gambling, the efficiency of racetrack and sports betting markets, gambling prevalence and behavior,modeling the demand for gambling services, the economic impact of gambling, substitution and complementarities among different types of gambling activity, and the relationship between gambling and other sectors of the economy. These are all important issues, with significant global implications.Specifically, we divide the Handbook into sections on casinos, sports betting, horserace betting, betting strategy, motivation, behavior and decision-making in betting markets, prediction markets and political betting, and lotteries and gambling machines

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There is growing interest among academics and policymakers in the economics of gambling, which has been stimulated by major regulatory and tax changes in the U.S., U.K. Continental Europe, Asia, Australia and elsewhere. Unfortunately, there is no comprehensive source of path-breaking researchon this topic. To fill this gap, we commissi...

Leighton Vaughan Williams is Head of Economics Research and Director of the Betting Research Unit and Political Forecasting Unit at Nottingham Business School, Nottingham Trent University. Donald S. Siegel is Dean and Professor at the School of Business, University at Albany, SUNY.

other books by Leighton Vaughan Williams

The Economics of Gambling
The Economics of Gambling

Kobo ebook|Sep 27 2005

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Format:HardcoverDimensions:720 pages, 9.75 × 6.75 × 0.98 inPublished:November 18, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199797919

ISBN - 13:9780199797912

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Table of Contents

IntroductionSECTION I: CASINOS1. Gary Anders: The Employment Impact of Casino Gambling in the U.S.2. John E. Anderson: The Economics of Casino Taxation3. Mark W. Nichols and Mehmet Serkan Tosun: The Elasticity of Casino Gambling4. Ricardo Chi Sen Siu: The Economics of Asian Casino Gaming and Gambling5. John C. Navin, Timothy S. Sullivan, and Warren D. Richards: How Does Implementation of a Smoking Ban Affect Gaming?6. Douglas M. Walker: Overview of the Economics and Social Impacts of Gambling in the United StatesSECTION II: SPORTS BETTING7. George Diemer and Ryan M. Rodenberg: The Economics of Online Sports Betting8. David Forrest and Levi Perez: The Football Pools9. John Goddard: The Efficiency of Soccer Betting Markets10. Loreto Llorente, Josemari Aizpurua, and Javier Puertolas: The Efficiency of Pelota Betting Markets11. Rodney J. Paul, Andrew P. Weinbach, and Brad R. Humphreys: The Lure of the Pitcher: How the Baseball Betting Market is Influenced by Elite Starting Pitchers12. J. James Reade and John Goddard: Information Efficiency in High-Frequency Betting MarketsSECTION III: HORSERACE BETTING13. David Edelman: On the Long-Run Sustainability of Tote Betting Markets14. Richard Thalheimer: The Economics of Racetrack-Casino (Racino) Gambling15. Ramon P. DeGennaro and Ann B. Gillette: The Modern Racing Landscape and the Racetrack Wagering Market: Components of Demand, Subsidies, and Efficiency16. David Marginson: What Explains the Existence of an Exchange Overround?17. Adi Schnytzer: Insider Trading in Betting Markets18. Adi Schnytzer, Vasiliki Makropoulo, and Martien Lamers: Pricing Decisions and Insider Trading in Fixed-Odds Horse Betting MarketsSECTION IV: BETTING STRATEGY19. Andrew Grant: Betting on Simultaneous Events and Accumulator Gambles20. Robert C. Hannum: A Primer on the Mathematics of Gambling21. Robert C. Hannum: The Science and Economics of Poker22. Leonard C. Maclean and William T. Ziemba: The Kelly Criterion with Games of Chance23. Michael A. Smith: Exploiting Expert Analysis? Evidence from Event Studies in an Information-Rich Market EnvironmentSECTION V: MOTIVATION, BEHAVIOR AND DECISION-MAKING IN BETTING MARKETS24. Alistair Bruce: Betting Motivation and Behavior25. Les Coleman: Motivation in Betting Markets: Speculation, Calculus, or Fun?26. David McDonald, Ming-Chien Sung, and Johnnie Johnson: Evidence of Biased Decision-Making in Betting Markets27. Greg Durham: Behavioral Finance and Point-Spread Wagering MarketsSECTION VI: PREDICTION MARKETS AND POLITICAL BETTING28. David Johnstone: A Simple Automated Market Maker for Prediction Markets29. Paul W. Rhode and Koleman Strumpf: The Long History of Political Betting Markets: An International PerspectiveSECTION VII: LOTTERIES AND GAMBLING MACHINES30. David Forrest and O. David Gulley: The Efficiency of Lottery Markets31. John Lepper and Stephen Creigh-Tyte: The National Lottery32. Scott Farrow and Chava Carter: The Benefits and Costs of Slot Machine Gambling33. Kent Grote and Victor A. Matheson: The Economics of Lotteries: A Survey of the Literature34. Leighton Vaughan Williams and David Paton: The Taxation of Gambling Machines: A Theoretical Perspective