The Impact of State Lotteries and Casinos on State Bankruptcy Filings
Over the past half century, there has been an increasing prevalence of legalized gambling in the US. At the same time there is a general recognition, empirically supported in the economics literature, that spending on lottery and gaming products tends to be regressive in nature. In addition, gambling addiction is a widely acknowledged social problem. This raises the question of whether the increased presence of casinos and state lotteries results in relatively more bankruptcy filings in the states that offer them. This paper adds to the existing literature by comparing the relative impact of the presence of lotteries to that of casinos on both personal and business bankruptcies. States that adopted lotteries and casinos prior to 1995 experienced significantly higher personal bankruptcy rates while the effect of lottery and casino adoption on personal bankruptcies has disappeared since that time.
|Date of creation:||Feb 2013|
|Publication status:||Published in Growth and Change, Volume 45, Number 1, March 2014, Pages 121-135|
|Contact details of provider:|| Phone: (508)793-3362|
Fax: (508) 793-3708
Web page: http://www.holycross.edu/departments/economics/website/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Garrett, Thomas A. & Coughlin, Cletus C., 2009.
"Inter–Temporal Differences in the Income Elasticity of Demand for Lottery Tickets,"
National Tax Journal,
National Tax Association, vol. 62(1), pages 77-99, March.
- Thomas A. Garrett & Cletus C. Coughlin, 2007. "Inter-temporal differences in the income elasticity of demand for lottery tickets," Working Papers 2007-042, Federal Reserve Bank of St. Louis.
- Ernie Goss & Edward Morse & John Deskins, 2009. "Have Casinos Contributed to Rising Bankruptcy Rates?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 15(4), pages 456-469, November.
- Robert Baumann & Victor A. Matheson, 2013. "Estimating economic impact using ex post econometric analysis: cautionary tales," Chapters,in: The Econometrics of Sport, chapter 10, pages 169-188 Edward Elgar Publishing.
- Robert Baumann & Victor Matheson & Gordon Gekko, 2011. "Estimating economic impact using ex post econometric analysis: Cautionary tales," Working Papers 1112, International Association of Sports Economists;North American Association of Sports Economists.
- Robert Baumann & Victor Matheson, 2011. "Estimating economic impact using ex post econometric analysis: Cautionary tales," Working Papers 1103, College of the Holy Cross, Department of Economics.
- Richard Thalheimer & Mukhtar M. Ali, 2004. "The Relationship of Pari-mutuel Wagering and Casino Gaming to Personal Bankruptcy," Contemporary Economic Policy, Western Economic Association International, vol. 22(3), pages 420-432, 07.
- Kent Grote & Victor Matheson, 2007. "Examining the 'Halo Effect' in lotto games," Applied Economics Letters, Taylor & Francis Journals, vol. 14(4), pages 307-310.
- Victor Matheson & Kent Grote, 2005. "Examining the Halo Effect in Lotto Games," Working Papers 0513, College of the Holy Cross, Department of Economics.
- Farrell, Lisa & Morgenroth, Edgar & Walker, Ian, 1999. " A Time Series Analysis of U.K. Lottery Sales: Long and Short Run Price Elasticities," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(4), pages 513-526, November.
- Nichols, Mark W. & Grant Stitt, B. & Giacopassi, David, 2000. "Casino gambling and bankruptcy in new United States casino jurisdictions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 29(3), pages 247-261, May.
- repec:kap:iaecre:v:15:y:2009:i:4:p:456-469 is not listed on IDEAS
- Boardman, Barry & Perry, John J., 2007. "Access to gambling and declaring personal bankruptcy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(5), pages 789-801, October. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:hcx:wpaper:1302. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.