Schnytzer, Adi; Luppi, Barbara - In: Journal of Gambling Business and Economics 2 (2008) 3, pp. 85-99
We present an empirical study of loss aversion in the Hong Kong horse betting market. We provide evidence of the presence of loss aversion in a context of complete absence of the favourite-longshot bias. This would suggest that, since loss aversion is a psychological bias, the favourite-longshot...