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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Description/Abstract
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) |
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| Related URLs: | |
| 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 |
| Item ID: | 36093 |
| Date Deposited: | 24 Apr 2007 |
| Last Modified: | 02 Mar 2012 13:51 |
| Contributors: | Johnson, J.E.V. (Author) Bruce, A.C. (Author) |
| Date: | 1999 |
| Status: | Published |
| Publisher: | University of Southampton |
| URI: | http://eprints.soton.ac.uk/id/eprint/36093 |
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