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Gambling, Prediction Markets and Public Policy
Author(s) -
Paton David,
Siegel Donald S.,
Williams Leighton Vaughan
Publication year - 2010
Publication title -
southern economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.762
H-Index - 58
eISSN - 2325-8012
pISSN - 0038-4038
DOI - 10.4284/sej.2010.76.4.878
Subject(s) - financial market , economics , public economics , public policy , empirical evidence , financial economics , business , finance , economic growth , philosophy , epistemology
The recent worldwide increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections, and wagering on financial instruments has stimulated an important debate regarding the public policy implications of these activities. Some critical research questions concern the efficiency of such markets, heterogeneity in risk attitudes among agents engaged in these activities, the factors that influence performance in gambling, and the desirability of using prediction markets. This special issue provides empirical evidence on these issues.