Gambling behavior can serve as an informative indicator of
important household heterogeneity that is difficult to observe
directly in data. We present, to the best of our knowledge, the
first comprehensive study of the consumption and personal finance
of gamblers using a nationwide representative household survey. We
find that consumers are more likely to gamble when income is higher
than its normal level predicted by observable characteristics, and
that nongambling expenditures tend to increase with gambling
activities. In addition, gamblers are more likely to concurrently
have various types of debt and assets, assuming a more active
position on household balance sheets. However, gamblers do not
necessarily have a higher net worth than comparable nongamblers.
Gamblers also tend to engage in health-wise risky behaviors, such
as smoking and heavy drinking, while paying out-of-pocket on life
and health insurance. We present extensive evidence that such
behavior differences observed in the data are not primarily due to
different degrees of careless reporting to the survey. Rather, we
argue that our findings are consistent with the notion that certain
consumers, namely, the active participants in personal finance
markets, take on gambling as a form of entertainment.
General
Imprint: |
Bibliogov
|
Country of origin: |
United States |
Release date: |
February 2013 |
First published: |
February 2013 |
Authors: |
Geng Li
|
Dimensions: |
246 x 189 x 3mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
58 |
ISBN-13: |
978-1-288-69800-4 |
Categories: |
Books >
Social sciences >
Politics & government >
General
|
LSN: |
1-288-69800-3 |
Barcode: |
9781288698004 |
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!