Is there an optimistic bias on betting markets?
Bettors are subject to an optimistic bias when betting on the team they support. This paper shows that this individual bias does not affect betting odds on British teams in association football (soccer), as it is often argued.
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- Gervais, Simon & Odean, Terrance, 2001.
"Learning to be Overconfident,"
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- Michael A. Smith & David Paton & Leighton Vaughan Williams, 2006. "Market Efficiency in Person-to-Person Betting," Economica, London School of Economics and Political Science, vol. 73(292), pages 673-689, November.
- Brad M. Barber & Terrance Odean, 2001. "Boys will be Boys: Gender, Overconfidence, and Common Stock Investment," The Quarterly Journal of Economics, Oxford University Press, vol. 116(1), pages 261-292.
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- Richard Zuber & Patrick Yiu & Reinhold Lamb & John Gandar, 2005. "Investor-fans? An examination of the performance of publicly traded English Premier League teams," Applied Financial Economics, Taylor & Francis Journals, vol. 15(5), pages 305-313. Full references (including those not matched with items on IDEAS)
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