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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