Predicting the improbable

Claus Bjørn Jørgensen, Sigrid Suetens, Jean-Robert Tyran, 22 April 2011

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Important events are hard to predict – a fact that is particularly hard-felt when it comes to low probability events with dramatic consequences. Nuclear catastrophe, financial crisis and the like are things that even experts struggle to predict.

Topics: Frontiers of economic research
Tags: Behavioural economics, gambler’s fallacy, gambling, hot hand fallacy

Taxing gambling: Some precedents

Nicholas Tosney, 5 May 2008

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Today, the notion that Britain is in danger of becoming, or has become, a ”nation of gamblers” is commonplace. In fact, the chairman of the UK government’s recently established Gambling Commission has said that “we are a nation of gamblers”.

Topics: Taxation
Tags: Britain, gambling, seventeeth century, tax