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Lotteries, inequality, and market imperfection: Galor and Zeira go gambling

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  • Thomas Gall

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Abstract

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Suggested Citation

  • Thomas Gall, 2008. "Lotteries, inequality, and market imperfection: Galor and Zeira go gambling," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 34(2), pages 359-382, February.
  • Handle: RePEc:spr:joecth:v:34:y:2008:i:2:p:359-382
    DOI: 10.1007/s00199-006-0171-x
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    References listed on IDEAS

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    1. Thomas Garrett, 2001. "An International Comparison and Analysis of Lotteries and the Distribution of Lottery Expenditures," International Review of Applied Economics, Taylor & Francis Journals, vol. 15(2), pages 213-227.
    2. Maitreesh Ghatak & Massimo Morelli & Tomas Sjöström, 2001. "Occupational Choice and Dynamic Incentives," Review of Economic Studies, Oxford University Press, vol. 68(4), pages 781-810.
    3. Stergios Skaperdas, 1996. "Contest success functions (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(2), pages 283-290.
    4. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Oxford University Press, vol. 60(1), pages 35-52.
    5. Julie Berry Cullen & Steven D. Levitt, 1999. "Crime, Urban Flight, And The Consequences For Cities," The Review of Economics and Statistics, MIT Press, vol. 81(2), pages 159-169, May.
    6. Marshall, John M, 1984. "Gambles and the Shadow Price of Death," American Economic Review, American Economic Association, vol. 74(1), pages 73-86, March.
    7. Scott, Frank & Garen, John, 1994. "Probability of purchase, amount of purchase, and the demographic incidence of the lottery tax," Journal of Public Economics, Elsevier, vol. 54(1), pages 121-143, May.
    8. Ng Yew Kwang, 1965. "Why do People Buy Lottery Tickets? Choices Involving Risk and the Indivisibility of Expenditure," Journal of Political Economy, University of Chicago Press, vol. 73, pages 530-530.
    9. Garratt, Rod & Marshall, John M, 1994. "Public Finance of Private Goods: The Case of College Education," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 566-582, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Thomas Gall & Paolo Masella, 2012. "Markets and jungles," Journal of Economic Growth, Springer, vol. 17(2), pages 103-141, June.
    2. repec:spr:joecth:v:63:y:2017:i:4:d:10.1007_s00199-016-0977-0 is not listed on IDEAS
    3. Thomas Gall & Paolo Masella, 2007. "A Tale of Markets and Jungles in a Simple Model of Growth," JEPS Working Papers 07-004, JEPS.
    4. Lea Cassar, 2007. "Convergence, Inequality and Education in the Galor and Zeira Model," Rivista di Politica Economica, SIPI Spa, vol. 97(6), pages 229-254, November-.

    More about this item

    Keywords

    Poverty trap; Credit market imperfections; Investment indivisibility; Lotteries; O16; D51; D31;

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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