This study shows that the propensity to gamble and investment decisions are cor- related. bling behavior in other settings, including the stock market. ABSTRACT. This study shows that the propensity to gamble and investment decisions are correlated. At the aggregate level, individual. For instance, a gamble with a % chance of a moderate loss is obviously perceived as being unfavorable. . In Section III, I develop a profile of stock market. Authors ALOK KUMAR Search for casino club luzern papers by this author Alok Kumar is at the McCombs School of Business, University of Texas at Austin. Subscribe to this fee journal for more curated articles on this topic. About SSRN Objectives Network Directors Presidential Letter Announcements Contact us Who gambles in the stock market. Using the URL or DOI link below will ensure access to this page indefinitely. We've noticed some unusual traffic coming from your network. I would like to thank two anonymous referees; an anonymous associate editor; Lucy Ackert; Warren Bailey; Brad Barber; Nick Barberis; Robert Battalio; Garrick Blalock; Markus Brunnermeier; Sudheer Chava; Vidhi Chhaochharia; Lauren Cohen; Shane Corwin; Josh Coval; Henrik Cronqvist; Steve Figlewski; Margaret Forster; Amit Goyal; Bing Han; Cam Harvey the editor ; David Hirshleifer; Scott Irwin; Narasimhan Jegadeesh; Danling Jiang; George Korniotis; Lisa Kramer; Charles Lee; Chris Malloy; Bill McDonald; Victor McGee; Stefan Nagel; Terrance Odean; Jerry Parwada; Allen Poteshman; Stefan Ruenzi; Kevin Scanlon; Paul Schultz; Mark Seasholes; Devin Shanthikumar; Bob Shiller; Sophie Shive; Kent Womack; Jeff Wurgler; Wei Xiong; Lei Yu; Eduardo Zambrano; Ning Zhu; and seminar gold mainer at the Spring NBER Behavioral Finance Group Meeting, University of Notre Dame, EFA Meeting, AFA Meeting, Ohio State University, University of Texas at Austin, University of California at Los Angeles, Tuck School at Dartmouth, Columbia University, and University of North Carolina at Chapel Hill for helpful discussions and valuable comments.