Toward an explanation of the favourtie-Longshot bias: a decision-making perspective
Johnson, J.E.V. and Bruce, A.C. (1999) Toward an explanation of the favourtie-Longshot bias: a decision-making perspective. Southampton, UK, University of Southampton (Discussion Papers in Accounting and Management Science, (99-145) ).
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This paper seeks to offer new insights into the behavioral origins of the 'favourite-longshot' bias- an established feature of betting markets, whereby longshots win less often than the subjective probabilities imply and favourites more often. This study analyses a new data source which offers detailed information for a large sample of recent UK horseraces on decision-making behavior within the parimutuel and the parallel bookmaker-based betting markets
|Item Type:||Monograph (Discussion Paper)|
|Subjects:||H Social Sciences > HF Commerce
G Geography. Anthropology. Recreation > GV Recreation Leisure
B Philosophy. Psychology. Religion > BF Psychology
|Divisions:||University Structure - Pre August 2011 > School of Management
|Date Deposited:||24 Apr 2007|
|Last Modified:||02 Mar 2012 13:51|
|Publisher:||University of Southampton|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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