Young Adult Gambling Behaviors and their Relationship with the Persistence of ADHD

Young adulthood is a period renowned for engagement in impulsive and risky behaviors, including gambling. There are some indications that young adults exhibit higher gambling rates in comparison to older adults. Problem gambling has also been linked to ADHD. This longitudinal study examines the relationship between gambling and ADHD among an epidemiological sample of young adults (n = 235; males = 179, females = 56) aged 18-24. Results indicate that individuals who report childhood ADHD symptoms which persist into young adulthood experience greater gambling problem severity than participants with no ADHD or those with non-persistent ADHD.     

DO BETTER INFORMED INVESTORS ALWAYS DO BETTER? A BUYBACK PUZZLE

We explore the value of private investment information using data from a singular source: auctions of yearling racehorses. Horse breeders possess superior information about their own horses and have strong financial incentives to buy the best of these back at auction. However, those they repurchase subsequently perform significantly worse on average, earning 30% less at the racetrack than horses purchased by outsiders. Moreover, this underperformance is concentrated in male horses, despite these being purchased exclusively for racing purposes. These puzzling findings cannot be explained by differences in horse risk or breeder abilities, or by nonfinancial objectives, or by behavioral or selection biases. (JEL G02, G11, G14, L83, D44)     

Book Reviews

Statistics for Engineering Problem Solving.: Stephen B. Vardeman. Boston, MA: PWS Publishing, 1994. 840 pp. $59.95. Reviewed by Soren Bisgaard

A Data-Based Approach to Statistics.: Ronald L. Iman. Belmont, CA: Wadsworth Publishing, 1994. xiv + 898 pp. $51.95. Reviewed by Katherine Halvorsen

Concepts in Probability and Stochastic Modeling.: James J. Higgins and Sallie Keller-McNulty. Belmont, CA: Duxbury Press, 1995. xi + 420 pp. $67.43. Reviewed by David M. Nickerson

Statistics (6th ed.).: James T. McClave and Frank H. Dietrich II. New York: Dellen/Macmillan College Publishing, 1994. xix + 967 pp. $66.00. Reviewed by Katherine Halvorsen

Data Analysis for Monitoring Human Rights.: Herbert Spirer and Louise Spirer. Washington, DC: American Association for the Advancement of Science, 1994. xiv + 126 pp. $15.00. Reviewed by Diane G. Saphire