The Diluted Economics of Casinos and Crime: A Rejoinder to Grinols and Mustardâ€™s Reply
In their reply to my comment (Walker 2008) Grinols and Mustard explained that in their original study (2006) their interest was â€œin the costs to the host county associated with a change in crime from whatever sourceâ€ (Grinols and Mustard 2008, p. 22). In this rejoinder, I explain that the estimated costs of crime attributable to casinos will be overstated if the estimated crime effects are based on the â€œundilutedâ€ crime rate used by Grinols and Mustard (2006). I also discuss why this issue is important, in the context of â€œsocial cost of casino gamblingâ€ estimates that are frequently quoted in political debate and by the media.
Volume (Year): 5 (2008)
Issue (Month): 2 (May)
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- Earl L. Grinols & David B. Mustard, 2001. "Business profitability versus social profitability: evaluating industries with externalities, the case of casinos," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 22(1-3), pages 143-162.
- Earl L. Grinols & David B. Mustard, 2008. "Correctly Critiquing Casino-Crime Causality," Econ Journal Watch, Econ Journal Watch, vol. 5(1), pages 21-31, January.
- Earl L. Grinols & David B. Mustard, 2006. "Casinos, Crime, and Community Costs," The Review of Economics and Statistics, MIT Press, vol. 88(1), pages 28-45, February.