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- W960116487 abstract "We show how cheating in illegal gambling can be sustained in equilibrium, even when gamblers are aware of it. Not only is cheating profi t-maximizing for operators, but it can also be utility-maximizing if it provides gamblers the opportunity to engage in other related activities that generate non-monetary rewards, such as practicing superstitions. This, in turn, suggests why legalizing gambling might not fully capture the gains from the illegal market - operators and gamblers both prefer cheating, but this would be harder to hide in a legalized environment. We illustrate the model, generate results, and verify them empirically, using the example of jueteng , an illegal numbers game in the Philippines." @default.
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- W960116487 date "2011-05-04" @default.
- W960116487 modified "2023-09-27" @default.
- W960116487 title "(DP 2011-03) The Demand for Unfair Gambles: Why Illegal Lotteries Persist" @default.
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