During the last few decades, commercial gambling has increased
substantially throughout the Western world. More people than ever
before have access to sources of legalised gambling, leading to
bumper revenues for the institutions involved. Naturally enough,
this has led to an increased interest in the area of the economics
of betting. This book addresses the issues raised by the continued
growth of the gambling sector. How can we model the behaviour of
people who seemingly act irrationally? What are the implications of
different tax policies with regard to gambling? Are casinos capable
of taking money away from state-run lotteries and the causes they
fund? Can bookmakers' odds be influenced in such a way as to make
the gambling market inefficient? The authors in this volume provide
insights based on data from many different countries, including
England, the USA, Australia, Spain and Cyprus. This volume brings
together work which addresses the economic impact of the huge
growth of commercial gambling in the Western world, as well as
trying to model the cognitive processes which can explain why
individuals are prepared to behave in such apparently irrational
ways. This book was published as a special issue of Applied
Economics. The academic editor of this journal is Mark P. Taylor.
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