Bookmaker and pari-mutuel betting: Is a (reverse) favourite-longshot bias built-in?
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Other versions of this item:
- Alexander K. Koch & Hui-Fai Shing, 2008. "Bookmaker and Pari-Mutuel Betting: Is a (Reverse) Favourite-Longshot Bias Built-In?," Journal of Prediction Markets, University of Buckingham Press, vol. 2(2), pages 29-50, September.
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KeywordsGambling; Favourite-Lonshot Bias; Bookmaker betting; Parimutuel Betting; Breakage; Tick Size.;
- G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2007-12-08 (All new papers)
- NEP-SPO-2007-12-08 (Sports & Economics)
- NEP-UPT-2007-12-08 (Utility Models & Prospect Theory)
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