Loss-chasing, alexithymia, and impulsivity in a gambling task: alexithymia as a precursor to loss-chasing behavior when gambling

Objective: To examine the relationship between loss-chasing, the propensity to continue gambling to recover from losses, alexithymia, a personality trait associated poor emotional processing and impulsivity, the tendency to act quickly without reflection or consideration of the consequences. Method: Two experiments are reported (E1: N = 60, Males, 11; Age, 21.6 years. E2: N = 49, Males, 22; Age, 21.1 years). In experiment 1, two groups (low alexithymia, high alexithymia) completed the Cambridge Gambling Task (CGT). Loss-chasing behavior was investigated. In experiment 2, both alexithymia (low, high) and impulsivity (low, high) were examined also using the CGT. A further change was the order of bet proportion from ascending to descending. Results: Experiment 1 shows loss-chasing behavior in participants high in alexithymia but not those low in alexithymia (ηp2 = 0.09). Experiment 2 shows loss-chasing behavior in participants both low and high in alexithymia but it was greater for participants high in alexithymia (ηp2 = 0.09). The effect of impulsivity was not statistically significant (ηp2 = 0.01). Loss-chasing behavior was correlated with the emotional facets of alexithymia but not the cognitive facet. Conclusions: Alexithymia is a precursor to loss-chasing when gambling and loss-chasing reflects the cognitive and emotional aspects of gambling. Specifically, the tendency to loss-chase depends on the need to recoup previous losses and failure to process the emotional consequences of those losse

Adolescent Gambling-Oriented Attitudes Mediate the Relationship Between Perceived Parental Knowledge and Adolescent Gambling: Implications for Prevention

Although substantial research has provided support for the association between parental practices and adolescent gambling, less is known about the role of adolescent attitudes in this relationship. The primary purpose of this study was to test an integrative model linking perceived parental knowledge (children’s perceptions of their parents’ knowledge of their whereabouts and companions) with adolescent gambling while evaluating the mediating effects of adolescents’ own gambling approval, risk perception of gambling, and descriptive norms on gambling shared with friends. The data were drawn from the ESPAD® Italia 2012 (European School Survey Project on Alcohol and Other Drugs) study, which is based on a nationally representative sample of Italian adolescent students aged 15–19. The analysis was carried out on a subsample of 19,573 subjects (average age 17.11, 54 % girls). Self-completed questionnaires were administered in the classroom setting. The results revealed that adolescents who perceived higher levels of parental knowledge were more likely to disapprove of gambling and show higher awareness of its harmfulness, which were in turn negatively related to gambling frequency. They were also less likely to perceive their friends as gamblers, which was also negatively related to gambling frequency. These findings suggest that gambling prevention efforts should consider perceived parental knowledge and gambling-oriented attitudes (self-approval, risk perception, and descriptive norms) as factors that may buffer adolescent gambling behavior in various situations

When overconfident traders meet feedback traders

In this paper, we develop a model in which overconfident market participants and rational speculators trade against trend-chasers. We exhibit the unique linear equilibrium and assess the quality of prices according to the proportion of the different types of agents. We highlight how speculative bubbles arise when a large number of traders adopt a trend-chasing behavior. We show that overconfident traders can obtain positive expected profits. In particular, over-confident traders can outperform rational traders. The positive feedback trading enhances the negative correlation between the back-to-back prices changes and the volatility of prices as well. We show that positive feedback traders destabilize prices more than their overconfident opponents. Generally, overconfidence increases the volatility of prices and worsens the market efficiency. But, we show that in the presence of positive feedback trading, overconfidence improves the market efficiency and dampens the excess volatility

What differentiates professional poker players from recreational poker players? A qualitative interview study

The popularity of poker (and in particular online poker) has increasingly grown worldwide in recent years. Some of the factors that may explain this increased popularity include: (i) an increasing number of celebrities endorsing and playing poker, (ii) an increased number of televised poker tournaments, (iii) 24/7 access of poker via the internet, and (iv) the low stakes needed to play online poker. This increase in the popularity of poker has led to the increased incidence of the ‘professional poker player’. However, very little empirical research has been carried out into this relatively new group of gamblers. This research comprised a grounded theory study involving the analysis of data from three professional poker players, one semi-professional poker player and five recreational poker players. Results showed that all players believed that poker was a game of skill. The central theme as to what distinguishes professional poker players from recreational players was that professional poker players were much more disciplined in their gambling behaviour. They treated their poker playing as work, and as such were more likely to be logical and controlled in their behaviour, took less risks, and were less likely to chase losses. Recreational players were more likely to engage in chasing behaviour, showed signs of lack of control, took more risks, and engaged in gambling while under the influence of alcohol or drugs. Also of importance was the number of games and time spent playing online. Recreational players only played one or two games at a time, whereas professional poker players were much more likely to engage in multitable poker online, and played longer sessions, thus increasing the potential amount of winnings. Playing poker for a living is very possible for a minority of players but it takes a combination of talent, dedication, patience, discipline and disposition to succeed

The implications of real-time behavioural tracking

In contrast to offline gambling, behavioural tracking presents an opportunity for gaming operators and researchers to examine the actual and real-time behaviour engaged in by gamblers. To date, almost all diagnostic screening instruments contain criteria that are a mixture of statements about actual problem gambling behaviour, accompanied by criteria relating to the negative associated consequences of gambling. If problem gambling can be identified online without the use of diagnostic gambling screens, then this may have implications for the development of problem gambling screening instruments in the future

Rapid Metabolic Recovery Following Vigorous Exercise in Burrow-Dwelling Larval Sea Lampreys (\u3cem\u3ePetromyzon marinus\u3c/em\u3e)

Although the majority of the sea lamprey’s (Petromyzon marinus) life cycle is spent as a burrow-dwelling larva, or ammocoete, surprisingly little is known about intermediary metabolism in this stage of the lamprey’s life history. In this study, larval sea lampreys (ammocoetes) were vigorously exercised for 5 min, and their patterns of metabolic fuel depletion and replenishment and oxygen consumption, along with measurements of net whole-body acid and ion movements, were followed during a 4–24-h postexercise recovery period. Exercise led to initial five- to sixfold increases in postexercise oxygen consumption, which remained significantly elevated by 1.5–2.0 times for the next 3 h. Exercise also led to initial 55% drops in whole-body phosphocreatine, which was restored by 0.5 h, but no significant changes in whole-body adenosine triphosphate were observed. Whole-body glycogen concentrations dropped by 70% immediately following exercise and were accompanied by a simultaneous ninefold increase in lactate. Glycogen and lactate were quickly restored to resting levels after 0.5 and 2.0 h, respectively. The presence of an associated metabolic acidosis was supported by very high rates of metabolic acid excretion, which approached 1,000 nmol g-1 during the first 2 h of postexercise recovery. Exercise-induced ion imbalances were also rapidly alleviated, as initially high rates of net Na+ and Cl- loss (—1,200 nmol g-1h-1 and —1,800 nmol g-1h-1 respectively) were corrected within 1–2 h. Although larval sea lampreys spend most of their time burrowed, they are adept at performing and recovering from vigorous anaerobic exercise. Such attributes could be important when these animals are vigorously swimming or burrowing as they evade predators or forage

Gaming industry, social responsibility and academia

This article briefly looks at some of the ways that academics – and more specifically the International Gaming Research Unit (IGRU) – have been helping the gaming industry and related stakeholders in terms of social responsibility. The IGRU is a team of experienced gaming researchers from across the UK, that work together to undertake high quality research and consultancy aimed at developing effective responsible gaming strategies. Rather than outline every single initiative that we have been involved in, this article briefly overviews one project in a number of different areas including prevention, evaluation, education, research, and sharing best practice. These examples are also chosen to indicate the types of social responsibility activities that gaming companies can engage themselves in

Buying Winners while Holding on to Losers: an Experimental Study of Investors' Behavior

This paper presents the results of an experimental study aimed to understand how the past stock performance affects investor's desire to buy or sell the stock. It shows that people prefer to buy stocks that performed well in the past. However, when investors must sell one of the stocks they already own, their desire to have their funds invested into the past winner significantly diminishes, which may be due to their reluctance to realize their losses.experimental economics