The Relationship of Pari-mutuel Wagering and Casino Gaming to Personal Bankruptcy
AbstractIn this article, the relationship of the availability of pari-mutuel wagering and casino gaming opportunities to personal (nonbusiness) bankruptcy filings is investigated. An econometric model was developed relating the number of personal bankruptcies to sociodemographic, legal, and economic factors. In addition, a unique measure of access to casino and pari-mutuel gaming was included. Population, personal income, age, race, divorce rate, unemployment rate, and the ratio of debt to disposable personal income were found to be significant determinants of personal bankruptcies. Access to pari-mutuel or casino gaming facilities was found not to have a significant impact on personal bankruptcies. (JEL "K1", "K4", "D1", "L83") Copyright 2004 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Contemporary Economic Policy.
Volume (Year): 22 (2004)
Issue (Month): 3 (07)
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Find related papers by JEL classification:
- K1 - Law and Economics - - Basic Areas of Law
- K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
- D1 - Microeconomics - - Household Behavior
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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- Thomas A. Garrett, 2007. "The rise in personal bankruptcies: the Eighth Federal Reserve District and beyond," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 15-38.
- Thomas A. Garrett & Mark W. Nichols, 2005.
"Do casinos export bankruptcy?,"
2005-019, Federal Reserve Bank of St. Louis.
- Garrett, Thomas A. & Nichols, Mark W., 2008. "Do casinos export bankruptcy?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1481-1494, August.
- Garrett, Thomas A. & Wall, Howard J., 2010.
30759, University Library of Munich, Germany.
- Kent Grote & Victor Matheson, 2013. "The Impact of State Lotteries and Casinos on State Bankruptcy Filings," Working Papers 1302, College of the Holy Cross, Department of Economics.
- Cotti, Chad D. & Walker, Douglas M., 2010. "The impact of casinos on fatal alcohol-related traffic accidents in the United States," Journal of Health Economics, Elsevier, vol. 29(6), pages 788-796, December.
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