Luck vs Skill in Gambling over the Recession. Evidence from Italy

Capacci, Sara ; Randon, Emanuela ; Scorcu, Antonello E. (2014) Luck vs Skill in Gambling over the Recession. Evidence from Italy. Bologna: Dipartimento di Scienze economiche DSE, p. 17. DOI 10.6092/unibo/amsacta/3930. In: Quaderni - Working Paper DSE (918). ISSN 2282-6483.
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Abstract

We perform an econometric analysis of the gambling market in Italy over the recession (2009-2012), observing the consumption patterns in "luck" and "skill" games. We find a different effect between the early and late period of the crisis. Whereas gambling initially behaves as normal good, in the long run luck games increase with the worsening of economic conditions. Moreover, skill games are more persistent and influence luck games, but not the opposite. Skill players choose simple lottery games, but luck players cannot handle complex games. Our results provide insights on investment choices in financial markets among expert and naïve buyers.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Capacci, Sara
Randon, Emanuela
Scorcu, Antonello E.
Keywords
Gambling, Economic Crises, Financial Investment
Subjects
ISSN
2282-6483
DOI
Deposit date
14 Jan 2014 09:02
Last modified
10 Feb 2014 10:46
URI

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