000			01221nam a22001577a 4500
999			_c517610 _d517610
008			210722b ||||| |||| 00| 0 eng d
100			_aHerskowitz, Sylvan _927333
245			_aGambling, saving, and lumpy liquidity needs
260			_aAmerican Economic Journal: Applied Economics
300			_a13(1), Jan, 2021: p.72-104
520			_aI present evidence that unmet liquidity needs for indivisible, "lumpy," expenditures increase demand for betting as a second-best method of liquidity generation in the presence of financial constraints. With a sample of 1,708 sports bettors in Kampala, Uganda, I show that participants' targeted payouts are linked to anticipated expenditures, while winnings increase lumpy expenditures disproportionately. I show that a randomized savings treatment decreases demand for betting. And I use two lab-in-the-field experiments to show that unmet liquidity needs and saving ability are important mechanisms. These results cannot be explained by betting as a purely normal good. – Reproduced
650			_aHousehold Finance, Household Saving, Borrowing, Debt, Wealth _927334
773			_aAmerican Economic Journal: Applied Economics
906			_aHOUSEHOLD FINANCE
942			_cAR