Poverty is associated with a wide range of counterproductive economic behaviors. Scarcity
theory proposes that poverty itself induces a scarcity mindset, which subsequently forces the …

The gambling industry has grown into a global business in the 21st century. This has
created the need for a new emphasis on problem prevention. This article highlights the core …

This study shows that the propensity to gamble and investment decisions are correlated. At
the aggregate level, individual investors prefer stocks with lottery features, and like lottery …

Decision-making under risk has been variably characterized and examined in many different
disciplines. However, interdisciplinary integration has not been forthcoming. Classic theories …

Several lines of research have provided evidence for a relation between personal relative
deprivation and gambling. Despite this knowledge, little is known about possible …

We present evidence from laboratory experiments showing that individuals are “last-place
averse.” Participants choose gambles with the potential to move them out of last place that …

This chapter provides an overview of household finance. The first part summarizes key facts
regarding household financial behavior, emphasizing empirical regularities that are …

We find that firms headquartered in areas with a taste for gambling tend to be more
innovative, ie they spend more on R&D, and obtain more and better quality patents. These …

Not having enough of what one needs has long been shown to have detrimental
consequences for decision making. Recent work suggests that the experience of insufficient …

Who takes risks, and why? Does risk-taking in one context predict risk-taking in other
contexts? We seek to address these questions by considering two non-independent …