A Note on Gambling in Industrialized Nations
17 Pages Posted: 28 Jan 2007
Date Written: January 26, 2007
Per capita gambling expenditures differ considerably among industrialized nations. Although such variation cannot be understood by reference to standard economic factors, a large part of these differences can be explained by two cultural variables. These are respectively related to the willingness of the population to accept income risks and to the basic values held by the population concerning the acceptability of behavior not reflected by the standard norms of "good behavior." This note shows how such cultural variables can be introduced into an economic analysis in a systematic fashion.
Keywords: gambling, cultural variables
JEL Classification: D120, D140, D840, Z100, Z130
Suggested Citation: Suggested Citation