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An Empirical Cross-validation of Alternative Classification Strategies Applied to Harness Racing Data for Win Bets

In: Efficiency Of Racetrack Betting Markets

Author

Listed:
  • Larry H. Ludlow

    (Boston College, USA)

Abstract

This paper presents the results of a two year cross-validation of a fundamental handicapping system. Harness race performance data from a single season's entire racing meet were subjected to a discriminant analysis and classification criteria were developed. The Year 1 discriminant function and classification criteria were applied to Year 2 data. The classification techniques are evaluated in terms of percent correct classification and return on investment.

Suggested Citation

  • Larry H. Ludlow, 2008. "An Empirical Cross-validation of Alternative Classification Strategies Applied to Harness Racing Data for Win Bets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 20, pages 199-212, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812819192_0020
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