A Model of Casino Gambling
Nicholas C. Barberis
NBER Working Paper No. 14947
Issued in May 2009
NBER Program(s):Asset Pricing
We show that prospect theory offers a rich theory of casino gambling, one that captures several features of actual gambling behavior. First, we demonstrate that, for a wide range of preference parameter values, a prospect theory agent would be willing to gamble in a casino even if the casino only offers bets with no skewness and with zero or negative expected value. Second, we show that the probability weighting embedded in prospect theory leads to a plausible time inconsistency: at the moment he enters a casino, the agent plans to follow one particular gambling strategy; but after he starts playing, he wants to switch to a different strategy. The model therefore predicts heterogeneity in gambling behavior: how a gambler behaves depends on whether he is aware of the time inconsistency; and, if he is aware of it, on whether he can commit in advance to his initial plan of action.
Machine-readable bibliographic record - MARC, RIS, BibTeX
Document Object Identifier (DOI): 10.3386/w14947
Published: "A Model of Casino Gambling", Management Science 58, 35-51, January 2012 (Special Issue on Behavioral Economics).
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25 Interesting Topics for Gambling Research Papers Writing for Your Dissertation Projects
Gambling research paper is often assigned to the students in order to make them understand the hazardous implications it can bring with it.
Although, it’s global game which is played by from a multi-millionaire to a street rat, but still it is considered to be an addiction. It is apprehended so much so the total estimate of the legal global market could be estimated to $ 335 billion, which is a very handsome amount.
By and large, students are asked to write against the term which often makes it similar to the other research papers on gambling. Therefore, the topic selection should be done carefully, so that you can come up with a unique piece of paper. What they can do is to come up with catchy title but with the same theme to intrigue interest in the readers, which is not that easy. You have to give in a lot of thought before the final selection or you can consult the following article, to get an idea on
how to create gambling research papers.
For those students who are going in circles to come up with a catchy and creative title, we have compiled some good topics that they can use blindfolded. These topics will help you construct your desired research discussion in your dissertation paper.
- Stop rolling the dice!
- What is the attraction in gambling?
- Gambling may have various causes but they are not more than its impacts.
- Is gambling fun or a reason to lose lives?
- Life is a gamble.
- Can gambling destroy a relationship?
- What are the possible circumstances for gambling?
- Gambling - ever increasing addiction.
- What is meant by psychological gambling?
- Is gambling a threat or fun?
- Should gambling be banned forever?
- Gambling is not an issue!
- How to avoid the bad habit of gambling?
- What are the impacts of gambling?
- Should gambling be made legal in every country of the world?
- Issues of morality in casino gambling
- An introduction to online gambling.
- What is compulsive gambling?
- Gambling in America.
- Gambling in cricket.
- Ethical analysis of gambling.
- What are the effects of gambling on the economy?
- Increasing gambling in youth is of serious concern.
- Risk factors in gambling
- Gambling in baseball.
We have given twenty topics for gambling research papers, so that you can select the one which you like. It is advisable that you go for a topic that is bit different from the conventional titles, which talks against gambling.