Professor of Economics at Lancaster University and Visiting Research Fellow of the School of Accounting, Economics and Finance, Ian Walker presented some of his portfolio of research on the economics of gambling.
Professor Walker's focus was on lotto – the world’s most prevalent form of gambling. His quantitative analysis of sales, draw by draw since the inception of the game 22 years ago in the UK, was able to tease out from the data a quantitative measure of how players feel about being able to play, even though it is heavily taxed and represents a poor value wager. He also discussed the extent to which lotto is habituating, and even though it is widely regarded as a relatively benign form of gambling it is nonetheless addictive. The work also explored how problem gambling can be quantified and the role that lotto, despite its reputation for being a soft form of gambling, might play in “causing” problem gambling.
Professor Walker's visit to the University of Wollongong is made possible by the UIC International Links Grant of Dr Silvia Mendolia and Dr Alfredo Paloyo for the project "Nonlinear Effects of High School Peers on Educational Outcomes".