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A dynamic model of Gambling addiction with social costs: theory and policy solutions

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We investigate the effects of gambling addiction in a dynamic model in which wellbeing crucially depends on the accumulation of relational goods which is weakened by the consumption of gambling. We outline conditions under which gambling may become addictive leading to a suboptimal equilibrium from a social point of view. We examine the relative effectiveness of different policy solutions (tax on gambling, gambling restrictions) in bridging the distance between the equilibrium without intervention and social optimum.

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File URL: http://www.aiccon.it/pubblicazione/133-dynamic-model-of-gambling-addiction-with-social-costs-theory-and-policy-solutions/
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Paper provided by Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 133-2014.

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Length: 21 pages
Date of creation: 14 Jan 2014
Handle: RePEc:ris:aiccon:2014_133
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  1. Leonardo Becchetti & Giorgio Federico & Nazaria Solferino, 2011. "Erratum to: What to do in globalised economies if global governance is missing? The vicarious role of competition in social responsibility," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 58(4), pages 439-439, December.
  2. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
  3. Kearney, Melissa Schettini, 2005. "State lotteries and consumer behavior," Journal of Public Economics, Elsevier, vol. 89(11-12), pages 2269-2299, December.
  4. Dockner, Engelbert J & Feichtinger, Gustav, 1993. "Cyclical Consumption Patterns and Rational Addiction," American Economic Review, American Economic Association, vol. 83(1), pages 256-263, March.
  5. Bardsley, P., 1998. "Dynamic Addiction Games," Department of Economics - Working Papers Series 632, The University of Melbourne.
  6. Davide, Dragone & Francesco, Manaresi & Luca, Savorelli, 2013. "Obesity and smoking: can we catch two birds with one tax?," SIRE Discussion Papers 2013-31, Scottish Institute for Research in Economics (SIRE).
  7. Iannaccone, Laurence R., 1986. "Addiction and satiation," Economics Letters, Elsevier, vol. 21(1), pages 95-99.
  8. Becchetti, Leonardo & Palestini, Arsen & Solferino, Nazaria & Elisabetta Tessitore, M., 2014. "The socially responsible choice in a duopolistic market: A dynamic model of “ethical product” differentiation," Economic Modelling, Elsevier, vol. 43(C), pages 114-123.
  9. Becchetti Leonardo & Giorgio Federico & Solferino Nazaria, 2011. "What to do in globalised economies if global governance is missing? The vicarious role of competition in social responsibility," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 58(2), pages 185-211, June.
  10. Wakefield, Melanie A. PhD & Chaloupka, Frank J. PhD & Kaufman, Nancy J. RN, MS & Orleans, C. Tracy PhD & Barker, Dianne C. MHS & Ruel, Erin E. MA, 2000. "Do Restrictions on Smoking at Home, at School and in Public Places Influence Teenage Smoking?," University of California at San Francisco, Center for Tobacco Control Research and Education qt13x7b25w, Center for Tobacco Control Research and Education, UC San Francisco.
  11. Engelbert Dockner & Gustav Feichtinger, 1991. "On the optimality of limit cycles in dynamic economic systems," Journal of Economics, Springer, vol. 53(1), pages 31-50, February.
  12. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
  13. Madhusudhan, Ranjana G., 1996. "Betting on Casino Revenues: Lessons From State Experiences," National Tax Journal, National Tax Association, vol. 49(3), pages 401-412, September.
  14. Jonathan Gruber & Botond Köszegi, 2001. "Is Addiction "Rational"? Theory and Evidence," The Quarterly Journal of Economics, Oxford University Press, vol. 116(4), pages 1261-1303.
  15. Douglas M. Walker & John D. Jackson, 2011. "The Effect Of Legalized Gambling On State Government Revenue," Contemporary Economic Policy, Western Economic Association International, vol. 29(1), pages 101-114, 01.
  16. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
  17. Madhusudhan, Ranjana G., 1996. "Betting on Casino Revenues: Lessons From State Experiences," National Tax Journal, National Tax Association, vol. 49(3), pages 401-12, September.
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