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The Economics Of Casino Gambling Final

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The Economics Of Casino Gambling Final
Report on “Economics of Gambling”

Reviewed by:

Lidiia Kutsyna
Valeriia Budiakivska
Yuliya Vitko
Palina Shved

Economics of gambling
Outline:
Brief review
Methodology
Analysis of sources:
Business Profitability versus Social Profitability: Evaluating Industries with Externalities, The Case of Casinos
Earl L. Grinolsa, and David B. Mustard
The Geography, Economics, and Politics of Lottery Adoption
Cletus C. Coughlin, Thomas A. Garrett, and Rubén Hernández-Murillo
The economics of casino gambling
Eadington W. (1999), Journal of Economic Perspectives
Who Pays and Who Benefits? Examining the Distributional Consequences of the Georgia Lottery for Education
Ross Rubenstein and Benjamin Scafidi
Suggestions for the topic development

Brief review
The author of the research: Robert Simmons
The date: 2005
The main goal:
To apply economic, theoretical, and social analysis to the gambling sector and clarify all the advantages and disadvantages followed by its legalization.
Methodology
44 references were used for the research to write the current chapter. Books, papers, academic journals, and studies of different economists were used to conduct the study presented in this chapter.

The chapter sums up numerous studies done earlier on all issues related to gambling as it is or on its particular types. The author discusses types of gambling, attitude of gamblers towards risk and implementation of Expected Utility theory; Rational Expectations in the gambling Industry; and the theory of consumer behavior. Robert Simmons analyzed why people gamble, used various models and approaches to analyze the gambling legalization as well as social benefits and costs; investigated the composition of industry, and commented the new gambling fields, such as Internet gambling. To sum up, the structure of chapter has the following subcategories:
1. Consumer behavior in the gambling industry
2. Macro/Social issues within the industry
3. Structure and composition of gambling
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