Herd behaviour and underdogs in the NFL
AbstractPrevious research has failed to draw any clear conclusions about the efficiency of the billion-dollar gambling industry for National Football League (NFL) games. We build on previous research and expose a new market inefficiency, which is consistent with the well-documented notion of herd behaviour in behavioural finance. A differential strategy of betting on home and visitor underdogs with large closing lines can produce statistically significant positive returns.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 19 (2012)
Issue (Month): 1 (January)
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Web page: http://www.tandfonline.com/RAEL20
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- Andy Fodor & Michael DiFilippo & Kevin Krieger & Justin Davis, 2013. "Inefficient pricing from holdover bias in NFL point spread markets," Applied Financial Economics, Taylor & Francis Journals, vol. 23(17), pages 1407-1418, September.
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