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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ePrint ID: 36093
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Date Event
1999Published
Date Deposited: 24 Apr 2007
Last Modified: 16 Apr 2017 22:07
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/36093

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