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Probability and Utility Estimates for Racetrack Bettors

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Cited by:

  1. Dirk Bergemann & Marco Ottaviani, 2021. "Information Markets and Nonmarkets," Cowles Foundation Discussion Papers 2296, Cowles Foundation for Research in Economics, Yale University.
  2. Bradley, Ian, 2003. "The representative bettor, bet size, and prospect theory," Economics Letters, Elsevier, vol. 78(3), pages 409-413, March.
  3. Alasdair Brown & Fuyu Yang, 2017. "The Role of Speculative Trade in Market Efficiency: Evidence from a Betting Exchange," Review of Finance, European Finance Association, vol. 21(2), pages 583-603.
  4. Dagaev, Dmitry & Stoyan, Egor, 2020. "Parimutuel betting on the eSports duels: Evidence of the reverse favourite-longshot bias," Journal of Economic Psychology, Elsevier, vol. 81(C).
  5. Bruno Jullien & Bernard Salanie, 2000. "Estimating Preferences under Risk: The Case of Racetrack Bettors," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 503-530, June.
  6. Hsiaw, Alice, 2018. "Goal bracketing and self-control," Games and Economic Behavior, Elsevier, vol. 111(C), pages 100-121.
  7. Alasdair Brown & Fuyu Yang, 2017. "Salience and the Disposition Effect: Evidence from the Introduction of “Cash‐Outs” in Betting Markets," Southern Economic Journal, John Wiley & Sons, vol. 83(4), pages 1052-1073, April.
  8. He, Xue-Zhong & Treich, Nicolas, 2017. "Prediction market prices under risk aversion and heterogeneous beliefs," Journal of Mathematical Economics, Elsevier, vol. 70(C), pages 105-114.
  9. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
  10. Vicki M. Bier & Yacov Y. Haimes & James H. Lambert & Nicholas C. Matalas & Rae Zimmerman, 1999. "A Survey of Approaches for Assessing and Managing the Risk of Extremes," Risk Analysis, John Wiley & Sons, vol. 19(1), pages 83-94, February.
  11. Lo Victor S & Bacon-Shone John, 2008. "Probability and Statistical Models for Racing," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 4(2), pages 1-14, April.
  12. Marshall Gramm & C. Nicholas McKinney & Douglas H. Owens & Matt E. Ryan, 2007. "What Do Bettors Want? Determinants of Pari‐Mutuel Betting Preference," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(3), pages 465-491, July.
  13. Steve Chan & Davis B. Bobrow, 1981. "Horse Races, Security Markets, and Foreign Relations," Journal of Conflict Resolution, Peace Science Society (International), vol. 25(2), pages 187-236, June.
  14. Paul J. Healy & Sera Linardi & J. Richard Lowery & John O. Ledyard, 2010. "Prediction Markets: Alternative Mechanisms for Complex Environments with Few Traders," Management Science, INFORMS, vol. 56(11), pages 1977-1996, November.
  15. Niko Suhonen, 2011. "Market Efficiency in Finnish Harness Horse Racing," Finnish Economic Papers, Finnish Economic Association, vol. 24(1), pages 55-63, Spring.
  16. David Peel & David Law, 2009. "A More General Non‐expected Utility Model as an Explanation of Gambling Outcomes for Individuals and Markets," Economica, London School of Economics and Political Science, vol. 76(302), pages 251-263, April.
  17. Frantisek Kopriva, 2015. "Constant Bet Size? Don't Bet on It! Testing Expected Utility Theory on Betfair Data," CERGE-EI Working Papers wp545, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  18. Boulu-Reshef, Béatrice & Comeig, Irene & Donze, Robert & Weiss, Gregory D., 2016. "Risk aversion in prediction markets: A framed-field experiment," Journal of Business Research, Elsevier, vol. 69(11), pages 5071-5075.
  19. Goto, Shingo & Yamada, Toru, 2023. "What drives biased odds in sports betting markets: Bettors’ irrationality and the role of bookmakers," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 252-270.
  20. Piotr Borowski & Marcin Chlebus, 2021. "Machine learning in the prediction of flat horse racing results in Poland," Working Papers 2021-13, Faculty of Economic Sciences, University of Warsaw.
  21. Ma, Tiejun & Tang, Leilei & McGroarty, Frank & Sung, Ming-Chien & Johnson, Johnnie E. V, 2016. "Time is money: Costing the impact of duration misperception in market prices," European Journal of Operational Research, Elsevier, vol. 255(2), pages 397-410.
  22. Dindo, Pietro & Massari, Filippo, 2020. "The wisdom of the crowd in dynamic economies," Theoretical Economics, Econometric Society, vol. 15(4), November.
  23. repec:hal:journl:dumas-00809694 is not listed on IDEAS
  24. W. David Walls & Kelly Busche, 2003. "Broken odds and the favourite-longshot bias in parimutuel betting: a direct test," Applied Economics Letters, Taylor & Francis Journals, vol. 10(5), pages 311-314, April.
  25. Mark Schneider & Robert Day, 2018. "Target-Adjusted Utility Functions and Expected-Utility Paradoxes," Management Science, INFORMS, vol. 64(1), pages 271-287, January.
  26. Brennan C. Platt & Joseph Price & Henry Tappen, 2013. "The Role of Risk Preferences in Pay-to-Bid Auctions," Management Science, INFORMS, vol. 59(9), pages 2117-2134, September.
  27. Frédéric Koessler & Anthony Ziegelmeyer & Marie-Hélène Broihanne, 2003. "The Favorite-Longshot Bias in Sequential Parimutuel Betting with Non-Expected Utility Players," Theory and Decision, Springer, vol. 54(3), pages 231-248, May.
  28. Erik Snowberg & Justin Wolfers, 2010. "Explaining the Favorite-Long Shot Bias: Is it Risk-Love or Misperceptions?," Journal of Political Economy, University of Chicago Press, vol. 118(4), pages 723-746, August.
  29. Gregory G. Brunk, 1981. "A Test of the Friedman-Savage Gambling Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(2), pages 341-348.
  30. Potters, J.J.M. & Wit, J., 1996. "Bets and Bids : Favorite-Longshot Bias and Winner's Curse," Discussion Paper 1996-04, Tilburg University, Center for Economic Research.
  31. Christian Gollier, 2020. "Aversion to risk of regret and preference for positively skewed risks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(4), pages 913-941, November.
  32. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
  33. John Peirson & Michael A. Smith, 2010. "Symposium Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behavior," Southern Economic Journal, John Wiley & Sons, vol. 76(4), pages 976-992, April.
  34. Egon Franck & Erwin Verbeek & Stephan Nüesch, 2011. "Sentimental Preferences and the Organizational Regime of Betting Markets," Southern Economic Journal, John Wiley & Sons, vol. 78(2), pages 502-518, October.
  35. Marco Ottaviani & Peter Norman Sørensen, 2009. "Surprised by the Parimutuel Odds?," American Economic Review, American Economic Association, vol. 99(5), pages 2129-2134, December.
  36. Stewart Hodges & Hao Lin & Lan Liu, 2013. "Fixed Odds Bookmaking with Stochastic Betting Demands," European Financial Management, European Financial Management Association, vol. 19(2), pages 399-417, March.
  37. He, Xue-Zhong & Treich, Nicolas, 2012. "Heterogeneous Beliefs and Prediction Market Accuracy," TSE Working Papers 13-394, Toulouse School of Economics (TSE).
  38. Alasdair Brown & Dooruj Rambaccussing & James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Inefficiencies: Evidence from Twitter and Betfair," Economics Discussion Papers em-dp2016-01, Department of Economics, University of Reading.
  39. David Paton & Leighton Vaughan Williams, 2001. "Monopoly Rents and Price Fixing in Betting Markets," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 19(3), pages 265-278, November.
  40. Restocchi, Valerio & McGroarty, Frank & Gerding, Enrico & Johnson, Johnnie E.V., 2018. "It takes all sorts: A heterogeneous agent explanation for prediction market mispricing," European Journal of Operational Research, Elsevier, vol. 270(2), pages 556-569.
  41. Dixon, Mark J. & Pope, Peter F., 2004. "The value of statistical forecasts in the UK association football betting market," International Journal of Forecasting, Elsevier, vol. 20(4), pages 697-711.
  42. Ziemba, William, 2020. "Parimutuel betting markets: racetracks and lotteries revisited," LSE Research Online Documents on Economics 118873, London School of Economics and Political Science, LSE Library.
  43. Kenneth L. Rhoda & Gerard T. Olson & Jack M. Rappaport, 1999. "Risk Preferences And Information Flows In Racetrack Betting Markets," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(3), pages 265-285, September.
  44. Jakobsson, Robin & Karlsson, Niklas, 2007. "Testing Market Efficiency in a Fixed Odds Betting Market," Working Papers 2007:12, Örebro University, School of Business.
  45. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
  46. Siemroth, Christoph, 2014. "Why prediction markets work : The role of information acquisition and endogenous weighting," Working Papers 14-02, University of Mannheim, Department of Economics.
  47. Foster, Gigi & Frijters, Paul & Schaffner, Markus & Torgler, Benno, 2018. "Expectation formation in an evolving game of uncertainty: New experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 154(C), pages 379-405.
  48. Carter, Harold O. & Shepard, Lawrence E. & Whitney, Marilyn, 1991. "An Economic Analysis of the California Thoroughbred Racing Industry," Research Reports 251935, University of California, Davis, Giannini Foundation.
  49. Justin Wolfers & Eric Zitzewitz, 2006. "Interpreting prediction market prices as probabilities," Working Paper Series 2006-11, Federal Reserve Bank of San Francisco.
  50. Gigi Foster & Paul Frijters & Markus Schaffner & Benno Torgler, 2013. "Expectation Formation in an Evolving Game of Uncertainty: Theory and New Experimental Evidence," CREMA Working Paper Series 2013-19, Center for Research in Economics, Management and the Arts (CREMA).
  51. Roderick Bain & Donald Hausch & William Ziemba, 2006. "An application of expert information to win betting on the Kentucky Derby, 1981-2005," The European Journal of Finance, Taylor & Francis Journals, vol. 12(4), pages 283-301.
  52. Martin Kukuk & Stefan Winter, 2008. "An Alternative Explanation of the Favorite-Longshot Bias," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 2(2), pages 79-96, September.
  53. Niko Suhonen & Jani Saastamoinen, 2018. "How Do Prior Gains and Losses Affect Subsequent Risk Taking? New Evidence from Individual-Level Horse Race Bets," Management Science, INFORMS, vol. 64(6), pages 2797-2808, June.
  54. Feess, Eberhard & Müller, Helge & Schumacher, Christoph, 2016. "Estimating risk preferences of bettors with different bet sizes," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1102-1112.
  55. Blume, Lawrence & Easley, David & Kleinberg, Jon & Kleinberg, Robert & Tardos, Éva, 2015. "Introduction to computer science and economic theory," Journal of Economic Theory, Elsevier, vol. 156(C), pages 1-13.
  56. Marshall Gramm & Douglas H. Owens, 2006. "Efficiency in Pari‐Mutuel Betting Markets across Wagering Pools in the Simulcast Era," Southern Economic Journal, John Wiley & Sons, vol. 72(4), pages 926-937, April.
  57. Philip W. S. Newall & Dominic Cortis, 2021. "Are Sports Bettors Biased toward Longshots, Favorites, or Both? A Literature Review," Risks, MDPI, vol. 9(1), pages 1-9, January.
  58. Jullien, Bruno & Salanié, Bernard, 2005. "Empirical Evidence on the Preferences of Racetrack Bettors," IDEI Working Papers 178, Institut d'Économie Industrielle (IDEI), Toulouse.
  59. Brown, Alasdair & Yang, Fuyu, 2015. "Does society underestimate women? Evidence from the performance of female jockeys in horse racing," Journal of Economic Behavior & Organization, Elsevier, vol. 111(C), pages 106-118.
  60. Russell Sobel & S. Travis Raines, 2003. "An examination of the empirical derivatives of the favourite-longshot bias in racetrack betting," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 371-385.
  61. Kajii, Atsushi & Watanabe, Takahiro, 2017. "Favorite–longshot bias in pari-mutuel betting: An evolutionary explanation," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 56-69.
  62. W. David Walls & Kelly Busche, 1996. "Betting volume and market efficiency in Hong Kong race track betting," Applied Economics Letters, Taylor & Francis Journals, vol. 3(12), pages 783-787.
  63. Leighton Vaughan Williams & Ming‐Chien Sung & Peter A. F. Fraser‐Mackenzie & John Peirson & Johnnie E. V. Johnson, 2018. "Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory," Economica, London School of Economics and Political Science, vol. 85(338), pages 360-382, April.
  64. John Peirson & Michael A. Smith, 2010. "Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behavior," Southern Economic Journal, John Wiley & Sons, vol. 76(4), pages 976-992, April.
  65. Norton, Hugh & Gray, Steve & Faff, Robert, 2015. "Yes, one-day international cricket ‘in-play’ trading strategies can be profitable!," Journal of Banking & Finance, Elsevier, vol. 61(S2), pages 164-176.
  66. Kearney, Melissa Schettini, 2005. "State lotteries and consumer behavior," Journal of Public Economics, Elsevier, vol. 89(11-12), pages 2269-2299, December.
  67. Piron, Robert & Smith, L. Ray, 1995. "Testing risklove in an experimental racetrack," Journal of Economic Behavior & Organization, Elsevier, vol. 27(3), pages 465-474, August.
  68. Angelini, Giovanni & De Angelis, Luca & Singleton, Carl, 2022. "Informational efficiency and behaviour within in-play prediction markets," International Journal of Forecasting, Elsevier, vol. 38(1), pages 282-299.
  69. Samuel Schwarz, 1993. "A Demand System for a Gambling Market: On the Relative Efficiency of Restricted Estimators for Singular Systems of Equations," The American Economist, Sage Publications, vol. 37(1), pages 51-55, March.
  70. M. Cain & D. Peel & D. Law, 2002. "Skewness as an explanation of gambling by locally risk averse agents," Applied Economics Letters, Taylor & Francis Journals, vol. 9(15), pages 1025-1028.
  71. Majlesi, Kaveh & Ek, Andreas & Gokmen, Gunes, 2022. "Cultural Origins of Investment Behavior," CEPR Discussion Papers 17412, C.E.P.R. Discussion Papers.
  72. Marco Ottaviani & Peter Norman Sorensen, 2010. "Noise, Information, and the Favorite-Longshot Bias in Parimutuel Predictions," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 58-85, February.
  73. Tim Kuypers, 2000. "Information and efficiency: an empirical study of a fixed odds betting market," Applied Economics, Taylor & Francis Journals, vol. 32(11), pages 1353-1363.
  74. Ioannis Asimakopoulos & John Goddard, 2004. "Forecasting football results and the efficiency of fixed-odds betting," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(1), pages 51-66.
  75. N. Bhattacharya & T. A. Garrett, 2008. "Why people choose negative expected return assets - an empirical examination of a utility theoretic explanation," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 27-34.
  76. Swidler, Steve & Shaw, Ron, 1995. "Racetrack wagering and the "uninformed" bettor: A study of market efficiency," The Quarterly Review of Economics and Finance, Elsevier, vol. 35(3), pages 305-314.
  77. Karl Whelan, 2024. "Risk aversion and favourite–longshot bias in a competitive fixed‐odds betting market," Economica, London School of Economics and Political Science, vol. 91(361), pages 188-209, January.
  78. Michael Cain & David Law & David Peel, 2000. "The Favourite‐Longshot Bias and Market Efficiency in UK Football betting," Scottish Journal of Political Economy, Scottish Economic Society, vol. 47(1), pages 25-36, February.
  79. Joseph Golec & Maurry Tamarkin, 1998. "Bettors Love Skewness, Not Risk, at the Horse Track," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 205-225, February.
  80. Kelly Busche & W. David Walls, 2001. "Breakage and betting market efficiency: evidence from the horse track," Applied Economics Letters, Taylor & Francis Journals, vol. 8(9), pages 601-604.
  81. Roman Malaric & Tomislav Katic & Dubravko Sabolic, 2007. "The market efficiency of the soccer fixed odds internet betting market," Applied Economics Letters, Taylor & Francis Journals, vol. 15(3), pages 171-174.
  82. Jaiho Chung & Joon Ho Hwang, 2010. "An Empirical Examination of the Parimutuel Sports Lottery Market versus the Bookmaker Market," Southern Economic Journal, John Wiley & Sons, vol. 76(4), pages 884-905, April.
  83. Bjerksund, Petter & Stensland, Gunnar, 2017. "Profitable Robot Strategies in Pari-Mutuel Betting," Discussion Papers 2017/6, Norwegian School of Economics, Department of Business and Management Science.
  84. Brennan C. Platt & Joseph Price & Henry Tappen, 2010. "Pay-to-Bid Auctions," NBER Working Papers 15695, National Bureau of Economic Research, Inc.
  85. Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2019. "On the efficiency of racetrack betting market: a new test for the favourite-longshot bias," Applied Economics, Taylor & Francis Journals, vol. 51(54), pages 5817-5828, November.
  86. Abraham Othman & Tuomas Sandholm, 2013. "The Gates Hillman prediction market," Review of Economic Design, Springer;Society for Economic Design, vol. 17(2), pages 95-128, June.
  87. Baucells, Manel & Weber, Martin & Welfens, Frank, 2007. "Reference point formation over time : a weighting function approach," Papers 07-43, Sonderforschungsbreich 504.
  88. Gross, Johannes & Rebeggiani, Luca, 2018. "Chance or Ability? The Efficiency of the Football Betting Market Revisited," MPRA Paper 87230, University Library of Munich, Germany.
  89. Manski, Charles F., 2006. "Interpreting the predictions of prediction markets," Economics Letters, Elsevier, vol. 91(3), pages 425-429, June.
  90. Brown, Lawrence D. & Lin, Yi, 2003. "Racetrack betting and consensus of subjective probabilities," Statistics & Probability Letters, Elsevier, vol. 62(2), pages 175-187, April.
  91. Brian Chezum & Bradley S. Wimmer, 2000. "Evidence of Adverse Selection from Thoroughbred Wagering," Southern Economic Journal, John Wiley & Sons, vol. 66(3), pages 700-714, January.
  92. Steven D. Levitt, 2003. "How Do Markets Function? An Empirical Analysis of Gambling on the National Football League," NBER Working Papers 9422, National Bureau of Economic Research, Inc.
  93. Ramirez, Philip & Reade, J. James & Singleton, Carl, 2023. "Betting on a buzz: Mispricing and inefficiency in online sportsbooks," International Journal of Forecasting, Elsevier, vol. 39(3), pages 1413-1423.
  94. D. A. Peel, 2012. "Further examples of the impact of skewness on the expected utility of a risk-averse agent," Applied Economics Letters, Taylor & Francis Journals, vol. 19(12), pages 1117-1121, August.
  95. David O. Scrogin & Robert P. Berrens, 2003. "Rationed Access and Welfare: The Case of Public Resource Lotteries," Land Economics, University of Wisconsin Press, vol. 79(2), pages 137-148.
  96. Bin-Tzong Chie & Chih-Hwa Yang, 2021. "Efficiency of the Experimental Prediction Market: Public Information, Belief Evolution, and Personality Traits," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 11(4), pages 1-3.
  97. Marco Ottaviani & Peter Norman Sørensen, 2009. "Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets," Discussion Papers 09-14, University of Copenhagen. Department of Economics.
  98. Lionel Page & Robert T. Clemen, 2013. "Do Prediction Markets Produce Well‐Calibrated Probability Forecasts?-super-," Economic Journal, Royal Economic Society, vol. 123(568), pages 491-513, May.
  99. Niko Suhonen & Jani Saastamoinen & Mika Linden, 2018. "A dual theory approach to estimating risk preferences in the parimutuel betting market," Empirical Economics, Springer, vol. 54(3), pages 1335-1351, May.
  100. McAlvanah, Patrick & Moul, Charles C., 2013. "The house doesn’t always win: Evidence of anchoring among Australian bookies," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 87-99.
  101. Martin Smith, 2001. "Breeding incentive programmes and demand for California thoroughbred racing: is there a quality/quantity tradeoff?," Applied Economics, Taylor & Francis Journals, vol. 33(14), pages 1755-1762.
  102. Jieyao Ding, 2011. "What Numbers to Choose for My Lottery Ticket? Behavior Anomalies in the Chinese Online Lottery Market," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2011_23, Max Planck Institute for Research on Collective Goods.
  103. Anil Gulati & Shekar Shetty, 2007. "Empirical evidence of error in pricing of favorites and longshots in greyhound racing," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 31(1), pages 49-58, March.
  104. Alistair C. Bruce & Johnnie E. V. Johnson & John D. Peirson & Jiejun Yu, 2009. "An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims," Economica, London School of Economics and Political Science, vol. 76(302), pages 282-303, April.
  105. Lambert, Nicolas S. & Langford, John & Wortman Vaughan, Jennifer & Chen, Yiling & Reeves, Daniel M. & Shoham, Yoav & Pennock, David M., 2015. "An axiomatic characterization of wagering mechanisms," Journal of Economic Theory, Elsevier, vol. 156(C), pages 389-416.
  106. Kelly Busche & W. David Walls, 2000. "Decision Costs And Betting Market Efficiency," Rationality and Society, , vol. 12(4), pages 477-492, November.
  107. Zhang, Chi & Thijssen, Jacco, 2022. "On sticky bookmaking as a learning device in horse-racing betting markets," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
  108. Timothy J. Brailsford & Philip K. Gray & Stephen A. Easton & Stephen F. Gray, 1995. "The Efficiency of Australian Football Betting Markets," Australian Journal of Management, Australian School of Business, vol. 20(2), pages 167-195, December.
  109. John Peirson & Michael A. Smith, 2010. "Symposium Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behavior," Southern Economic Journal, Southern Economic Association, vol. 76(4), pages 976-992, April.
  110. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Ine!ciencies: Evidence from Twitter and Betfair," Working Papers 2016-002, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
  111. Golec, Joseph & Tamarkin, Maurry, 1991. "The degree of inefficiency in the football betting market : Statistical tests," Journal of Financial Economics, Elsevier, vol. 30(2), pages 311-323, December.
  112. Ottaviani, Marco & Sørensen, Peter Norman, 2003. "Late Informed Betting and the Favourite-Longshot Bias," CEPR Discussion Papers 4092, C.E.P.R. Discussion Papers.
  113. Carrillo, Juan & Brocas, Isabelle & Giga, Aleksandar & Zapatero, Fernando, 2016. "Skewness Seeking in a Dynamic Portfolio Choice Experiment," CEPR Discussion Papers 11056, C.E.P.R. Discussion Papers.
  114. Yu, Dian & Gao, Jianjun & Wang, Tongyao, 2022. "Betting market equilibrium with heterogeneous beliefs: A prospect theory-based model," European Journal of Operational Research, Elsevier, vol. 298(1), pages 137-151.
  115. Buhagiar, Ranier & Cortis, Dominic & Newall, Philip W.S., 2018. "Why do some soccer bettors lose more money than others?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 18(C), pages 85-93.
  116. Grant, Andrew & Johnstone, David & Kwon, Oh Kang, 2019. "The cost of capital in a prediction market," International Journal of Forecasting, Elsevier, vol. 35(1), pages 313-320.
  117. Montone, Maurizio, 2021. "Optimal pricing in the online betting market," Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 344-363.
  118. Daniel K. N. Johnson & Tracy R. Gleason, 2009. "Who REALLY Wants to be a Millionaire? Gender Differences in Game Show Contestant Behavior Under Risk," Social Science Quarterly, Southwestern Social Science Association, vol. 90(2), pages 243-261, June.
  119. Matti Koivuranta & Marko Korhonen, 2019. "Misperception explains favorite-longshot bias: evidence from the Finnish and Swedish harness horse race markets," Empirical Economics, Springer, vol. 57(6), pages 2149-2160, December.
  120. Woodland, Bill M & Woodland, Linda M, 1991. "The Effects of Risk Aversion on Wagering: Point Spread versus Odds," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 638-653, June.
  121. Martin Chegere & Paolo Falco & Marco Nieddiu & Lorenzo Pandolfi & Mattea Stein, 2022. "It’s a Sure Win! Experimental evidence on overconfidence in betting behavior," CSEF Working Papers 655, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  122. Whelan, Karl & Hegarty, Tadgh, 2023. "Disagreement and Market Structure in Betting Markets: Theory and Evidence from European Soccer," CEPR Discussion Papers 18144, C.E.P.R. Discussion Papers.
  123. Johnnie E. V. Johnson & Owen Jones & Leilei Tang, 2006. "Exploring Decision Makers' Use of Price Information in a Speculative Market," Management Science, INFORMS, vol. 52(6), pages 897-908, June.
  124. Koivuranta, Matti & Korhonen, Marko, 2021. "Changes in risk preferences: Evidence from Swedish harness horse racing data," Journal of Economic Behavior & Organization, Elsevier, vol. 187(C), pages 16-32.
  125. David A. Peel & Davind Law, 2009. "An Explanation of Optimal Each-Way Bets based on Non-Expected Utility Theory," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 3(2), pages 15-35, September.
  126. Garrett, Thomas A. & Sobel, Russell S., 1999. "Gamblers favor skewness, not risk: Further evidence from United States' lottery games," Economics Letters, Elsevier, vol. 63(1), pages 85-90, April.
  127. Dmitry Dagaev & Egor Stoyan, 2019. "Parimutuel Betting On The Esports Duels: Reverse Favourite-Longshot Bias And Its Determinants," HSE Working papers WP BRP 216/EC/2019, National Research University Higher School of Economics.
  128. Alasdair Brown & Fuyu Yang, 2015. "Adverse Selection, Speed Bumps and Asset Market Quality," University of East Anglia Applied and Financial Economics Working Paper Series 070, School of Economics, University of East Anglia, Norwich, UK..
  129. Colquitt, L. Lee & Godwin, Norman H. & Swidler, Steve, 2004. "Betting on long shots in NCAA basketball games and implications for skew loving behavior," Finance Research Letters, Elsevier, vol. 1(2), pages 119-126, June.
  130. Ahern, James & Noel, Jay E., 2000. "Breeders' Awards And The Gambler'S Corner Solution," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36508, Western Agricultural Economics Association.
  131. Arjun Chatrath & Rohan A. Christie‐David & Hong Miao & Sanjay Ramchander, 2019. "Losers and prospectors in the short‐term options market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(6), pages 721-743, June.
  132. Michael Cain & David Law & David Peel, 2003. "The Favourite‐Longshot Bias, Bookmaker Margins and Insider Trading in a Variety of Betting Markets," Bulletin of Economic Research, Wiley Blackwell, vol. 55(3), pages 263-273, July.
  133. Stefan Winter & Martin Kukuk, 2008. "Do horses like vodka and sponging? - On market manipulation and the favourite-longshot bias," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 75-87.
  134. Gollier, Christian, 2016. "Explaining rank-dependent utility with regret and rejoicing," IDEI Working Papers 863, Institut d'Économie Industrielle (IDEI), Toulouse.
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