SSRN-A Model of Casino Gambling by Nicholas Barberis

GREAT STUFF!!! Barberis uses prospect theory to help explain behavior at casinos.SSRN-A Model of Casino Gambling by Nicholas Barberis:From the abstract: "...prospect theory can offer a surprisingly 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