Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming

Cognitive bias is prevalent among gamblers, especially those with gambling problems. Grounded in the heuristics theories, this study contributes to the literature by examining a cognitive bias triggered by the break streak pattern in the casino setting. We postulate that gamblers tend to bet on the latest outcome when there is a break-streak pattern. Moreover, three determinants of the betting decision under break-streak pattern, including the streak length of the alternative outcome, the frequency of the latest outcome, and gender, were identified and examined in this study. A non-participatory observational study was conducted among the Cussec gamblers in a casino in Macao. An analysis of 1229 bets confirms our postulation, particularly when the streak of the alternative outcome is long, the latest outcome is frequent, and the gamblers are females. The findings provide meaningful implications for casino management and public policymakers regarding the minimization of gambling harm.     

Household Debt and Adult Depressive Symptoms in the United States

This study used data from Waves 1 (1987–1989) and 2 (1992–1994) of the National Survey of Families and Households in the United States and a series of regression models, some of which included individual-specific fixed effects, to estimate associations of particular types and levels of debt with adult depressive symptoms. Results suggest that household debt is positively associated with greater depressive symptoms. However, this association appears to be driven by short-term (unsecured) debt; we found little evidence of associations with depressive symptoms for mid- or long-term debt. The link between short-term debt and depressive symptoms persisted with alternative estimation strategies, including defining debt in absolute and relative terms. Furthermore, this association was particularly concentrated among 51–64 year-old adults, those with a high school education or less, and those who were not stably married throughout the observation period. These findings suggest that short-term debt may have an adverse influence on psychological wellbeing, particularly for those who are less educated, approaching retirement age, or unmarried.     

Does IO Economics Really Make the Case for Investments in IT: A Rejoinder

The preceding critique [1] of the paper “The Information Problems in Organizations: A Research Model for the Value of Information and Information Systems” [3], reaches general conclusions with respect to the original paper and the applicability of economics to MIS research. These conclusions are based on arguments developed at a different level of analysis than that used in the original paper, and without considering the goals and intent of the original paper. The differences between the critique and the original paper are highlighted.     

Graphical Presentations of Data Envelopment Analyses: Management Implications from Parallel Axes Representations*

The conversion of multivariate data analysis into information that managers can readily use in their decision making has always been a challenging task. In this paper we provide a parallel axis representation of multivariate data and demonstrate how this representation may be used as a tool for implementing the results of data envelopment analysis. We use an analysis of the efficiency of electricity generating plants to illustrate the technique.     

Faculty Performance Evaluation: Modeling to Improve Personnel Decisions*

Based on likely future changes in faculty evaluation practices, this paper examines how institutions of higher education might operationalize performance evaluation as related to research, teaching, and service. A model is developed that allows coupling performance evaluation and relevant market considerations with merit pay, tenure, and promotion decisions. The approach is specifically applicable to tenure-track faculty members in colleges and universities.     

CHANGING MANUFACTURING STRATEGY

This paper demonstrates an approach to successfully managing change of manufacturing strategy. It first introduces the issues and management guidelines, and then describes how one company used this approach to achieve dramatic benefits from changing its manufacturing strategy. A third part of the paper elaborates on how the company made the approach work.     

Home gardening practice in Pune (India), the role of communities,urban environment and the contribution to urban sustainability

Urban Ecosystems - Urban agriculture (UA) is regarded as an emerging tool and strategy for sustainable urban development as it addresses a wide array of environmental, economic and social...     

Automating argument construction

Over the past five years the Artificial Intelligence Center at SRI has been developing a new technology to address the problem of automated information management within real- world contexts. The result of this work is a body of techniques for automated reasoning from evidence that we call evidential reasoning. The techniques are based upon the mathematics of belief functions developed by Dempster and Shafer and have been successfully applied to a variety of problems including computer vision, multisensor integration, and intelligence analysis.

We have developed both a formal basis and a framework for implementating automated reasoning systems based upon these techniques. Both the formal and practical approach can be divided into four parts: (1) specifying a set of distinct propositional spaces, (2) specifying the interrelationships among these spaces, (3) representing bodies of evidence as belief distributions, and (4) establishing paths of the bodies for evidence to move through these spaces by means of evidential operations, eventually converging on spaces where the target questions can be answered. These steps specify a means for arguing from multiple bodies of evidence toward a particular (probabilistic) conclusion. Argument construction is the process by which such evidential analyses are constructed and is the analogue of constructing proof trees in a logical context.

This technology features the ability to reason from uncertain, incomplete, and occasionally inaccurate information based upon seven evidential operations: fusion, discounting, translation, projection, summarization, interpretation, and gisting. These operation are theoretically sound but have intuitive appeal as well.

In implementing this formal approach, we have found that evidential arguments can be represented as graphs. To support the construction, modification, and interrogation of evidential arguments, we have developed Gister. Gister provides an interactive, menu-driven, graphical interface that allows these graphical structures to be easily manipulated.

Our goal is to provide effective automated aids to domain experts for argument construction. Gister represents our first attempt at such an aid.     

Sorokin as Lifelong Russian Intellectual: The Enactment of an Historically Rooted Sensibility

Prior to his 1922 emigration to Europe and thence to the United States, Pitirim Alexandrovich Sorokin had an exceptional intellectual and political career in Russia and the Soviet Union (Sorokin 1924, 1963a; Johnston 1995; Krotov 2005). Indeed, he was among the early founders of the science of sociology in his native land, where, according to a relatively recent bibliography (Sorokin 2000), he produced 162 Russian-language publications between the ages of 21 and 33. This listing includes not only book reviews and journal articles, but also substantial monographs and a two-volume theoretical treatise. While still a relatively young man, Sorokin had thus gained widespread recognition as a scholar of the first rank. He was also the initial chairperson (from 1919 to 1922) of a fledgling department of sociology at the University of Petrograd (St. Petersburg), an elected member of the national Constituent Assembly and an appointed staff member of the 1917 Provisional Government, the first democratic regime in Russia. This much would have sufficed for an entry in a sociological encyclopedia, and Sorokin’s political career has few parallels in the history of the field, other than the involvement of Emile Durkheim in French educational policy and the participation of Max Weber in creating the Weimar Republic in Germany. Nevertheless sociologists in the United States and most western historians of the field have not yet appreciated the full influence of the formative period, especially from 1905 to 1922. Lacking familiarity with Russian culture of that era and knowing little about the larger Russian socio-historical milieu, its intellectual discourse and collective memory, they have not been able to comprehend Sorokin’s outlook, behavior and professional output in the United States in relation to these earlier contextual factors. This is arguably a fundamental reason why many U.S. sociologists have tended to see Sorokin, especially since 1937, as a marginal figure and to regard his works largely as deviations from accepted social scientific practice. This paper will argue that a more adequate appreciation of Sorokin’s background and early adult life illumines both stylistic features of his works in America and also places into proper perspective several of his substantive foci that did not accord with contemporary “normal science” (Kuhn 1962). In short, despite his overall assimilation into American society and higher education, including his appointment at Harvard University and his election as president of the American Sociological Association, Sorokin should be understood in large measure as a life-long Russian intellectual. His was a Russian-born sensibility and consciousness—indeed a “Russian soul”—so deeply ingrained that it stamped his entire professional career in the United States, including his published researches, his popular sociology and his university teaching.