Gambling, Prediction Markets and Public Policy (Symposium)
Southern Economic Journal 2010, April
David Paton and Others
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1. Background The recent worldwide increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections, and wagering on financial instruments has stimulated an important debate regarding the public policy implications of these activities. Some critical research questions concern the efficiency of such markets, heterogeneity in risk attitudes among agents engaged in these activities, the factors that influence performance in gambling, and the desirability of using prediction markets.