An Empirical Analysis of Gambling Addiction: Results from the Case of Taiwan
AbstractThis study analyzes gambling addiction in Taiwan by using lottery data from 1978 to 1984. Two main conclusions can be drawn from the empirical evidence of this study. First, lottery play is strongly addictive in Taiwan, and the results are consistent with the theory of rational addiction. Second, the estimated short-run and long-run price elasticities are -0.136, and -1.463, respectively. Because consumers are very likely rational, the concerns of public policy toward gambling should focus on the negative externalities rather than on its addictive nature.
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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.
Volume (Year): 4 (2004)
Issue (Month): 1 (October)
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Web page: http://www.degruyter.com
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- Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
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