Laboratory economics as a research tool in the study of gambling markets
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AbstractIn this short paper we discuss the use of experimental economics as a useful research tool in the study of gambling markets. Through a laboratory experiment, data can be collected that reveal individual choices in response to several parameters relevant in gambling markets. These data can then be analyzed using the same wealth of statistical techniques developed by econometricians for the analysis of market data. We provide an example experiment design that shows how the revenue-maximizing level of gambling taxation can be determined based on demand parameters revealed in a laboratory setting.
SponsorshipW. D. Walls acknowledges financial support received from the Alberta Gaming Research Institute.
National Association for Gambling Studies (Australia) 2003 Conference Proceedings