The utility of gambling and the favourite-longshot bias
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References listed on IDEAS
- Kanto, Antti J. & Rosenqvist, Gunnar & Suvas, Arto, 1992. "On utility function estimation of racetrack bettors," Journal of Economic Psychology, Elsevier, vol. 13(3), pages 491-498, September.
- Woodland, Linda M & Woodland, Bill M, 1994. "Market Efficiency and the Favorite-Longshot Bias: The Baseball Betting Market," Journal of Finance, American Finance Association, vol. 49(1), pages 269-279, March.
- Linda M. Woodland & Bill M. Woodland, 2001. "Market Efficiency and Profitable Wagering in the National Hockey League: Can Bettors Score on Longshots?," Southern Economic Journal, Southern Economic Association, vol. 67(4), pages 983-995, April.
- Busche, Kelly & Hall, Christopher D, 1988. "An Exception to the Risk Preference Anomaly," The Journal of Business, University of Chicago Press, vol. 61(3), pages 337-346, July.
- 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.
- Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279-279.
CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Hwang, Joon Ho & Kim, Min-Su, 2015. "Misunderstanding of the binomial distribution, market inefficiency, and learning behavior: Evidence from an exotic sports betting market," European Journal of Operational Research, Elsevier, vol. 243(1), pages 333-344.
- David Forrest & Ian Mchale, 2007. "Anyone for Tennis (Betting)?," The European Journal of Finance, Taylor & Francis Journals, vol. 13(8), pages 751-768.
- Clark, Gordon L. & Fiaschetti, Maurizio & Tufano, Peter & Viehs, Michael, 2018. "Playing with your future: Who gambles in defined-contribution pension plans?," International Review of Financial Analysis, Elsevier, vol. 60(C), pages 213-225.
- 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.
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Keywordsbetting markets; risk-return frontier; reverse bias;
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