A Model of Casino Gambling Nicholas Barberis Yale University February 2009 PDF document - DocSlides
. In this paper, we show that prospect theory can o
er a rich theory of gambling, one that captures many features of actual gambling behavior. First, we demonstrate that, for a wide range of parameter values, a prospect theory agent would be willing to gamble in a casino, even if the casino only o.... ID: 913Direct Link: Embed code:
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