G2TT
来源类型Discussion paper
规范类型论文
来源IDDP17518
DP17518 Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market
Karl Whelan
发表日期2022-07-30
出版年2022
语种英语
摘要Research on sports betting markets has generally found a favorite-longshot bias, the empirical pattern for loss rates for bets on longshots to be higher than for favorites, which implies the odds do not reflect the underlying probabilities. The existing literature focuses largely on pari-mutuel betting but favorite-longshot bias is also evident in fixed-odds online betting markets of the type that are growing rapidly around the world. Explanations for this bias in previous work on pari-mutuel markets cannot explain why it would be a feature of competitive fixed-odds betting markets. We show how disagreement among gamblers and risk-aversion on the part of bookmakers in a competitive market can produce a pattern of favorite-longshot bias resembling the empirical evidence.
主题Financial Economics
关键词Gambling Favorite-longshot bias Risk aversion
URLhttps://cepr.org/publications/dp17518
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/546602
推荐引用方式
GB/T 7714
Karl Whelan. DP17518 Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market. 2022.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Karl Whelan]的文章
百度学术
百度学术中相似的文章
[Karl Whelan]的文章
必应学术
必应学术中相似的文章
[Karl Whelan]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。