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Provides a comprehensive theoretical and empirical analysis of the economic/social costs and benefits of legalized casinos
Discussion of each issue is accompanied by an extensive literature review
A key resource for anyone interested in the ongoing casino debate
Casinonomics provides a comprehensive analysis of the economic and social impacts of the casino industry. Examining the latest cutting-edge research, with a mix of theory and empirical evidence, Casinonomics informs the reader on the most important facets at the forefront of the public policy debate over this controversial industry. While the casino industry has continued to expand across the United States, and around the world, critics argue that casinos bring negative social impacts that offset any economic benefits. Casinonomics examines the evidence on the frequently claimed benefits and costs stemming from expansions in the casino industry, including the impact on economic growth, consumer welfare, and government tax revenues, as well as gambling disorders, crime rates, and the impact on other businesses. Readers will come away with a better-informed opinion on the merits of these arguments for and against public policies that would expand casino gambling.
Content Level »Professional/practitioner
Keywords »Casino Gambling - Consumer Welfare - Crime - Disordered Gambling - Economic Growth - Industry Competition - Social Costs of Gambling
Introduction.- PART I: Economic benefits from commercial casinos.- Casinos and economic growth.- Gambling, consumer behavior, and welfare.- Misconceptions about casinos and economic growth.- Analysis of the relationship between casinos and economic growth.- Recent evidence on casinos and economic growth.- The impact of casinos on state tax revenues.- Overview of Part I.- PART II: Disordered gambling and related behaviors.- Casinos and drunk driving fatalities.- Gambling, crime, binge drinking, drug use, and hiring prostitutes.- Gambling and attention deficit hyperactivity disorder.- Overview of Part II.- PART III: Negative socioeconomic impacts of gambling.- The social costs of gambling.- Issues in social cost analysis.- Is gambling an “unproductive” activity?.- Casinos and crime: A review of the literature.- Casinos and commercial real estate values: A case study of Detroit.- Relationships among gambling industries.- Overview of Part III.- PART IV: Conclusion.- Past and future.- APPENDIX: Primer on Microeconomics.