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The purpose of this paper is to deal with the issue of market redefinition through an examination of a unique industry that has met with multiple obstacles: online gambling. The main research question is how markets get redefined when quantum technological change occurs, despite the lack of formal support and a highly fragmented industry structure, typical in online industries.

This industry lends itself to the analysis because of the intense competition for reconstruction of the field among state powers, professional associations, and global forces. The paper provides an archival and qualitative overview of the industry and identify the various forces competing for dominance in the market. It examines the competing logics in this industry and identify the sources and implications of such competition for emerging markets.

Both broad and specific contributions of this paper are discussed, namely the important role of professional and interest associations in industries without clear geographical boundaries, as well as the growing role for global moderating agencies.

The paper provides a timely example of the ways in which firms organize in the modern business environment. In addition, it discusses the volatile and complex power structure in a global economy. While the research is necessarily processual and does not provide for multiple settings, the extent of legal implications here can be generalized to much smaller differences in global markets.

This paper provides support for the idea that, contrary to many concepts of industry acceptance and growth, legitimacy is not a requisite condition for an industry to prosper.

This paper aims to critically explore the factors influencing the regulation of gambling and cryptocurrencies as part of anti-money laundering (AML) initiatives in Bangladesh. As a member of the Asia/Pacific Group on money laundering, Bangladesh must adopt a risk-based approach to regulate these entities.

This study applied an exploratory design and investigated the real nature of the challenge Bangladesh facing in adopting a risk-based approach to regulate gambling and cryptocurrencies.

This study demonstrates that current regulatory responses towards gambling and cryptocurrencies in Bangladesh are largely influenced by passive wait-and-see policy instead of a proactive risk-based approach, a measure mandated by the Financial Action Task Force (FATF). It demonstrates that these financial entities, which are poorly regulated because of their unclear legal status in Bangladesh and the regulator’s apparent lack of understanding of the type of threats they pose, may facilitate money laundering. Effective risk-based regulation is required to control potential risks.

This paper focuses on two specific areas –gambling and cryptocurrencies – which are linked to two specific FATF Recommendations: designated non-financial businesses and professions (DNFBPs) and new technologies. Further research is required to investigate the concern from the perspective of other entities.

The results of this study will help inform policymakers about ways in which current regulatory approaches may need to be modified to better combat money laundering and financing of terrorism.

According to the authors’ knowledge, this is the first study aiming to explore challenges Bangladesh confronts in implementing a risk-based approach for DNFBPs and new technologies. Therefore, it provides important insights into the dilemma regulators facing in implementing global AML standards within their traditional legislative and regulatory framework.

A rich literature has documented gender-based differences in health care utilization and outcomes. The role of risk attitude in explaining the variations is limited at best. This study examines gender differences in health utilities and risk attitudes.

Data on 13 health states were collected from 629 students via questionnaires at the Ben-Gurion University of the Negev in 2005. From each respondent, we assessed utilities for a subset of health states, using Time Trade-Off and Standard Gamble. A risk attitude coefficient was calculated for each respondent as a function of their utilities for all outcomes assessed. The risk coefficient derived from a closed-form utility model for men was compared to that of women using the t-statistic.

There was a statistically significant difference in the risk attitudes of men and women. Men had a concave utility function, representing risk aversion, while women had a near linear utility function, suggesting that women are risk neutral.

Differences in risk attitude may be an important contributor to gender-based disparities in health services utilization. More research is needed to assess its full impact on decision-making in health care.

The paper aims to examine sales promotional practices in Ghana, weighing their ethical implications from an Islamic perspective and investigates whether they meet Islam's ethical requirements to merit Muslims' patronage.

The paper uses Qur'an 5:90/2:219 as a theoretical framework to analyze relevant data to ascertain the extent of ethical legitimacy of strategies used in sales promotion in Ghana and cites other relevant references from Qur'an and sunnah as interpretative proofs and methodology.

Islam emphasizes ethical principles in business. Muslims can promote business but that must be done within the ethical framework of Islam. The current Ghanaian promotional strategies are ethically questionable. They lead to unethical earning of livelihood and unjust acquisition of wealth through gambling and other ill‐perceived means which do not promote the ethical values of Muslims.

The paper emphasizes the necessity for further research into the ethical dimensions of business practices, in general, in Ghana to promote ethical responsibility in the society.

The study inculcates mutual socio‐economic and ethical responsibilities between Ghanaian sellers and buyers to save the society from the situation where love of wealth supersedes ethical interests.

Purpose – This chapter offers an integrative review of psychological and neurobiological differences between younger and older adults that might impact economic behavior. Focusing on key health economic challenges facing the elderly, it offers perspectives on how these psychological and neurobiological factors may influence decision-making over the life course and considers future interdisciplinary research directions.

Methodology/approach – We review relevant literature from three domains that are essential for developing a comprehensive science of decision-making and economic behavior in aging (psychology, neuroscience, and economics), consider implications for prescription drug coverage and long-term care (LTC) insurance, and highlight future research directions.

Findings – Older adults face many complex economic decisions that directly affect their health and well-being, including LTC insurance, prescription drug plans, and end of life care. Economic research suggests that many older Americans are not making cost-effective and economically rational decisions. While economic models provide insight into some of the financial incentives associated with these decisions, they typically do not consider the roles of cognition and affect in decision-making. Research has established that older age is associated with predictable declines in many cognitive functions and evidence is accumulating that distinct social motives and affect-processing profiles emerge in older age. It is unknown how these age differences impact the economic behaviors of older people and implies opportunities for path-breaking interdisciplinary research.

Originality/value of the chapter – Our chapter looks to develop interdisciplinary research to better understand the causes and consequences of age-related changes in economic decision-making and guide interventions to improve public programs and overall social welfare.

In recent years, there has been a growing awareness that most decision makers are not only concerned with the financial implications of information technology/system (IT/IS) projects, but they are also concerned with other objectives such as competitive advantage, market share and future growth. Nowadays, multi‐criteria decision‐making methods are gaining importance due to their inherent ability to judge different alternative scenarios for possible selection of the best alternative. This paper provides a decision‐making framework for senior executives when selecting innovative IT/IS projects. The proposed framework is based on the multi‐criteria utility theory (MCUT) combined with information economics principles to select IT/IS project(s) based on “business value” and “risk” criteria. MCUT has the advantage of taking into consideration the decision maker’s preferences in the form of utility functions defined over a set of tangible and intangible criteria. To illustrate the application of the proposed framework, a hypothetical case study is provided, where input elicited from four engineering professionals is used to develop utility functions for a predefined set of selection criteria.

This paper aims to examine the Islamic accounting research. In particular, the paper extensively investigates the literature on Islamic accounting to understand the issues, contexts, methods and theoretical paradigms thereof.

The study has adopted a literature review approach. It has examined the key journal publications for 30 years in accounting discipline and systematically identified the Islamic accounting papers during 1990–2020. In total, 95 papers were identified until June 2020, and they were thoroughly reviewed to identify the relevant issues, contexts, methods and theoretical paradigms.

The study has found that Islamic accounting papers covered issues of both Islamic organizations (e.g. Islamic financial institutions) and of Muslim countries. The key issues include the regulation and regulatory compliance, annual report disclosures, corporate and Islamic governance, accounting profession, gender, accountability matters, management accounting and control, waqf accounting and zakat management. The study has also observed various normative guidelines from the academics on how the teaching of Islam is enacted in accounting, accountability and governance matters to attain the maqasid al-shari'a, i.e. human welfare, social justice and equity.

The study is not empirical. Hence, the limitations of literature review papers are applicable in this case. Moreover, it is possible that this study could not identify some of the important literature on Islamic accounting (such as the papers published in Arabic by the academicians and professionals of Arab world).

The study enables both Islamic accounting academics and practitioners to identify the main Islamic accounting issues and realize the importance of Islamic accounting.

When the author considers Islamic accounting as a social construction and tries to understand the phenomenon through social theories, the author acknowledges the relevance of Islamic accounting in the society in which it operates. It can be noticed from the discussion that Islamic accounting emphasizes on social welfare, balance, equity and providing relevant information to follow the commandments of God.

To the best of the author’s knowledge, this study is the first to provide a synoptic view on the issues, context, methods and theoretical paradigms of Islamic accounting, while covering major accounting journals in 30 years.