This paper explores the use of the anchoring and adjustment heuristic by decision makers in a financial market; in particular, the degree to which horserace bettors anchor their probability judgments on the advantage afforded by a horse's barrier-position. The results suggest that under certain...

Against a background of extraordinary growth in the popularity of betting and gaming across many countries of the world, there has never been a greater need for a study into gambling's most important factor - its economics.This collection of original contributions drawn from such leading experts...

In recent years leading figures in a variety of fields - political, financial, medical, and organizational - have become acutely aware of the need to effectively incorporate aspects of risk into their decision-making. This book addresses a wide range of contemporary issues in decision research,...

We argue that the dominance of principal-agent theory as an approach to investigating executive pay has led to an overly narrow focus which may be unhelpful when considering cross-country differences and probably also hinders within-country analysis. The paper discusses the interlinked nature of...

This paper presents a critical assessment of the development of economic models of oil supply projection over the last two decades. The survey illustrates the fact that although most models have stressed the significance of the economic variables in the supply function, few attempts have been...