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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- Simon Gervais & Terrance Odean, "undated". "Learning To Be Overconfident," Rodney L. White Center for Financial Research Working Papers 05-97, Wharton School Rodney L. White Center for Financial Research.
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