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Choice in the Lottery-Insurance Situation Augmented-Income Approach

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  • Young Chin Kim

Abstract

I. Introduction, 148. — II. The model, 150. — III. The nature of market imperfections, 152. — IV. Summary and implications, 153.

Suggested Citation

  • Young Chin Kim, 1973. "Choice in the Lottery-Insurance Situation Augmented-Income Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(1), pages 148-156.
    • Handle: RePEc:oup:qjecon:v:87:y:1973:i:1:p:148-156.
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    File URL: http://hdl.handle.net/10.2307/1885231
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    Cited by:

    1. Nyman, John A. & Welte, John W. & Dowd, Bryan E., 2008. "Something for nothing: A model of gambling behavior," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2492-2504, December.
    2. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March.
    3. Roger Hartley & Lisa Farrell, 2002. "Can Expected Utility Theory Explain Gambling?," American Economic Review, American Economic Association, vol. 92(3), pages 613-624, June.
    4. Jerome F. Heavey, 1978. "The Incidence of State Lottery Taxes," Public Finance Review, , vol. 6(4), pages 415-426, October.
    5. Gong, Xiaodong & Zhu, Rong, 2019. "Cognitive abilities, non-cognitive skills, and gambling behaviors," Journal of Economic Behavior & Organization, Elsevier, vol. 165(C), pages 51-69.
    6. Coelho, Philip R. P. & McClure, James E., 1998. "Social context and the utility of wealth: Addressing the Markowitz challenge," Journal of Economic Behavior & Organization, Elsevier, vol. 37(3), pages 305-314, November.
    7. Conlisk, John, 1993. "The Utility of Gambling," Journal of Risk and Uncertainty, Springer, vol. 6(3), pages 255-275, June.

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