Identifying risk and mitigating gambling-related harm in online poker

The present paper conducts a critical analysis of the potential for gambling-related harm in relation to online poker participation, and a theoretical evaluation of current responsible gambling strategies employed to mitigate harm in online gambling and applies the evaluation of these strategies specifically to online poker gambling. Theoretically, the primary risk for harm in online poker is the rapid and continuous nature of poker provisions online, and has been demonstrated to be associated with disordered gambling behaviour, including the chasing of monetary losses. The following responsible gambling features were deemed relevant for consideration: informed player choice, voluntary self-exclusion, employee intervention, pre-commitment, in-game feedback, behavioural tracking tools, and age restriction and verification. Although current responsible gambling features are evaluated as theoretically robust, there remains a fundamental need for experimental validation of their effectiveness. Furthermore, despite online poker gamblers perceiving the responsible gambling features as valuable tools, in reality very few players regularly use available responsible gambling features. Ultimately, for the online poker gambling industry to retain market credibility and avoid substantial top-down regulation, it is imperative to demonstrate effectiveness of responsible gambling approaches, and increase customer utilisation of available harm-mitigation features.     

Britain's best kept secret? An analysis of the credit union as an alternative source of credit

At any time, the significance of a new device which facilitates saving and borrowing and encourages the prudent management of credit and debt is clear. Given the present credit market, in which certain categories of borrowers either cannot purchase credit or can only do so on disadvantageous terms, then the importance of such an alternative only increases. The credit union is such a device. It has an established and proven record of success in many countries but, outside of Northern Ireland, credit unions are in their infancy in the United Kingdom. This article examines the possibilities credit unions afford, against the background of the increasing problem of debt in the United Kingdom. We contend that credit unions can afford a partial solution to the debt problem, but that attention should also be placed on their limitations.     

Marital history and home ownership: Evidence from Australia

The relative cost of owning and renting housing and housing affordability have been clearly established as important determinants of home ownership. But the roles of marital status and history have been largely ignored. In this paper we show that both current marital status and past history affect ownership. Past history matters because wealth accumulation is greater among couple households than singles owing largely to economies of scale in housing consumption. Moreover, wealth is lost upon divorce. In effect, past marital history affects the affordability of owner housing. This result is shown in the estimation of model explaining wealth, leverage and tenure choice using Australian datasets.     

Hispanic Immigrant Entrepreneurs in the Las Vegas Metropolitan Area: Motivations for Entry into and Outcomes of Self‐Employment*

This study examined business ownership among foreign‐born Hispanic entrepreneurs. Through semistructured face‐to‐face interviews, the researchers examined motivations to enter business ownership as well as different business practices and the possible relationship between these practices and viability. It appears that in the Las Vegas metropolitan area, pull factors have a stronger impact on entrepreneurship than do push factors, drawing individuals into entrepreneurship. In addition, the importance of preparing a business plan and investing in advertising for business viability is identified.     

Consumer use of the internet for health information: a survey of primary care patients

An increasing number of patients use the internet to obtain information about health. Although some information is available about how health professionals use the internet, little is known about how patients utilize this information. Some patients may actively seek information to assume more responsibility for their health. However, others may feel obliged to do so because of failing confidence in health care provision. Health professionals have the potential to assist patients to make sense of health information from the internet; however, they may not necessarily welcome this role. This study aims to evaluate patients’ use of such information in a primary care setting. The sample consisted of adult patients (n = 851) from two general practice populations at different levels of the socio‐economic spectrum in South Wales (UK). Patients were surveyed by questionnaire about the health information they use, including the internet. The majority of patients preferred to use their general practitioner as the main source of health information. The internet was jointly the second preferred source for information about an illness (6%). Just over half (51%) of patients in this study had access to the internet, of which about half use it to access health information. Just under a quarter (24%, n = 55) of health internet users had discussed information accessed from the internet during a subsequent consultation with a health professional. Of these, three‐quarters felt more prepared and able to participate in decision‐making about treatments. This study provides a greater understanding of how patients are making use of health‐related information from the internet. These findings can be used to help prepare health care professionals for dealing appropriately with internet‐informed patients.     

The design of an optimal insurance contract for irreplaceable commodities

This paper discusses optimal insurance contract for irreplaceable commodities. To describe the dual impacts on individuals when a loss occurs to the insured irreplaceable commodities, we use a state-dependent and bivariate utility function, which includes both the monetary wealth and sentimental value as two arguments. We show that over (full, partial) insurance is optimal when a decrease in sentimental value will increase (not change, decrease, respectively) the marginal utility of monetary wealth. Moreover, a non-zero deductible exists even without administration costs. Furthermore, we demonstrate that a positive fixed reimbursement is optimal if (1) the premium is actuarially fair, (2) the monetary loss is a constant, and (3) the utility function is additively separable and the marginal utility of money is higher in the loss state than in the no-loss state. We also characterize comparative statics of fixed-reimbursement insurance under an additively separable preference assumption. JEL Classification G22 · D86 The author acknowledge funding from National Science Council in Taiwan (NSC93-2416-H-130-020).     

Consumption Externality and Equilibrium Underinsurance

Relative consumption has been found to be crucial in many areas, such as asset pricing, the design of taxation, and economic growth. This article extends this line of research to the individual's insurance decision. We first define “keeping up with the Joneses” in the purchase of insurance and find that jealousy does not necessarily give rise to “keeping up with the Joneses.” We also identify several sufficient conditions that cause the optimal coverage in the private market to be less than the social optimum (equilibrium underinsurance). Jealousy is found to be neither a sufficient nor a necessary condition for equilibrium underinsurance. We further show that a social welfare maximizing government could adopt a tax system to correct for the consumption externality and make individuals better off.