Searching for Anchoring Effects in a Naturalistic Environment: Evidence from the Hong Kong Horserace Betting Market
This paper explores the extent to which decision makers in a naturalistic environment, the Hong Kong horserace betting market, anchor their probability judgments on highly visible information and make insufficient adjustments in the light of additional data. Linear regression and conditional logit models are employed to examine the extent to which certain types of information are over-represented in market odds. The results suggest that, in contrast to much of the research on anchoring conducted in laboratories, the Hong Kong betting public do not anchor their judgements on past performances of horses, jockeys or trainers.
Volume (Year): 1 (2007)
Issue (Month): 1 (February)
|Contact details of provider:|| Web page: http://www.ubpl.co.uk/|
|Order Information:|| Web: http://www.jgbe.com/index_files/Page492.htm Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- repec:bla:joares:v:19:y:1981:i:1:p:120-145 is not listed on IDEAS
- Julian Diaz, III, 1997. "An Investigation into the Impact of Previous Expert Value Estimates on Appraisal Judgment," Journal of Real Estate Research, American Real Estate Society, vol. 13(1), pages 57-66.
When requesting a correction, please mention this item's handle: RePEc:buc:jgbeco:v:1:y:2007:i:1:p:69-84. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.