Measuring Skill in Games with Random Payoffs: Evaluating Legality
AbstractGames, such as carnival or electronic/video games, may award prizes in some U.S. states only if the games outcome depends sufficiently on skill. Otherwise, the game is classified as a gambling device and therefore illegal in most jurisdictions and states. This paper offers a practical methodology to determine what percentage of a games payoff deviation can be attributed to skill. This measure of skill is designed to apply to a new class of games that have come to market in which a player in given a task, with no hidden elements, to complete. For completing this task, a random prize is awarded.
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Bibliographic InfoArticle provided by De Gruyter in its journal Review of Law & Economics.
Volume (Year): 4 (2008)
Issue (Month): 1 (February)
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Web page: http://www.degruyter.com
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