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A gambler's payment behavior – the deposit and withdrawal of funds – precedes and follows the act of gambling. Given this separation, the methods and results of machine learning models built at the payment-level could be better generalized across gambling formats. With this study, we empirically evaluated this notion by validating a cluster analysis across two independent datasets of digital wallet payment transaction records. Using a discovery dataset comprising 2,286 customers of a casino-focused Internet gambling brand, the k-means algorithm revealed five distinct payment profiles. Using a validation dataset comprising 5,580 customers of a sports-focused Internet gambling brand, we evaluated the generalizability of the discovery payment profiles. Specifically, we assessed validity by (1) clustering the validation dataset using the discovery method, (2) classifying the validation dataset into the discovery clusters, and (3) assessing the stability of cluster membership. Two large low risk clusters were validated across datasets. Three smaller potential risk clusters were only partially validated. Our findings suggest that gamblers' payment behaviors are somewhat representative of their gambling behavior and may reflect dynamics of certain gambling formats. Stakeholders employing data science methods across gambling populations should be mindful of specific contexts and tailor analyses accordingly. [ABSTRACT FROM AUTHOR]

This study uses Monte Carlo simulation to examine the success of the monthly withdrawal of funds from portfolios consisting of U.S. large capitalization stocks, U.S. corporate bonds, and real estate investment trusts (REITs). The objective of this research is to provide an empirical examination of the effect of diversification with REITs on the withdrawal of funds from a retirement portfolio. We compare portfolios consisting of large capitalization stocks and corporate bonds to portfolios consisting of large capitalization stocks, corporate bonds, and REITs. We examine both portfolio compositions using a variety of portfolio weights, fund withdrawal rates, and fund withdrawal periods. The results of the study indicate that, in general, portfolios with REITs had a greater likelihood of sustaining a given number of withdrawals over this time. The results of this study can be used for retirement planning since they provide a historical perspective on the success of various withdrawal rates. Our results indicate that REITs, when added to a portfolio of stocks and bonds, can increase the success rates for a withdrawal portfolio. This indicates that individuals and large investment funds would likely benefit from adding REITs to a withdrawal portfolio of stocks and bonds. [ABSTRACT FROM AUTHOR]

This study analyzes the early desistance narratives of a sample of 44 male offenders, between 20 and 50 years old, incarcerated in Spain for serious crimes. In particular, two types of the inmates' stories are evaluated: 1) their narratives of personal change toward a non-criminal life (identity change, perceived self-efficacy and willingness for desistance); 2) their perceptions on those transitional or facilitator factors for desistance available to them (new learning, support and social bonding). Participants' accounts show how many subjects, despite being still in prison, claim to have experienced favorable changes and have different facilitating factors to abandon their previous criminal life. Despite this, such early narratives of withdrawal are not exempt from ambivalences and contradictions, both between subjects and within subjects. The process of desistance and their contradictions was interpreted, in accordance with the reviewed literature, as a long journey which is often traversed in a circular and zigzagging manner. Finally, it has been discussed how the correctional system should play a major role in facilitating the personal changes and the social support necessary for the ex-offenders' journey to desistance to be successful. [ABSTRACT FROM AUTHOR]

Using unique survey data, we find that a longer investment horizon (6-10 years and 11+ years) reduces the likelihood of exhibiting myopic loss aversion (MLA) compared to an investment horizon of less than 2 years. In addition, we find that investors with higher levels of assets under management (AUM) are less likely to exhibit MLA compared to the lowest AUM quartile. [ABSTRACT FROM AUTHOR]

We construct an asset market in a finite horizon overlapping-generations environment. Subjects are tested for comprehension of their fundamental value exchange environment and then reminded during each of 25 periods of the environment's declining new value. We observe price bubbles forming when new generations enter the market with additional liquidity and bursting as old generations exit the market and withdrawing cash. The entry and exit of traders in the market creates an M shaped double bubble price path over the life of the traded asset. This finding is significant in documenting that bubbles can reoccur within one extended trading horizon and, consistent with previous cross-subject comparisons, shows how fluctuations in market liquidity influence price paths. We also find that trading experience leads to price expectations that incorporate fundamental value. [ABSTRACT FROM AUTHOR]

This study explores the attitudes and actions of bank managers toward communication spending during recession. Results of this study indicate that organizational leaders cut communication spending early during recession and also erroneously rely on the bank's financials to mitigate irrational customer withdrawals. This research is used to illustrate the need for public librarians to meet the needs of bank stakeholders when their institution ceases to communicate during crises, for academic librarians to educate students in undergraduate and graduate programs regarding heightened information needs during recession, and for corporate librarians to understand a potential avenue for competitive advantage during recession. [ABSTRACT FROM AUTHOR]