The friedman-savage utility function in cross-cultural perspective

Journal of Political Economy • Vol/Iss. 84 • Published In • Pages: 821-834 •
By Pryor, Frederic L.

Abstract

This paper investigates the presence of gambling in preindustrial societies. Analysis shows that the presence of gambling can be predicted by region, the presence of domestic commercial money, socioeconomic inequality, and mobility combined with food supply from animal husbandry. The author suggests that the ideas underlying the Friedman-Savage utility function (1984) can be helpful in making predictions about which precapitalist societies do and which do not engage in gambling.
Documents and Hypotheses Filed By: Jessie Cohen  Amelia Piazza