This paper looks for evidence of weak form inefficiency in the British racetrack betting market, in particular the bookmaker-based market. In addition, it seeks to identify market segments, based on the degree of expertise of participants (races run during holiday v.s. non holiday periods),...

This paper reports the results of a field study examining the ability of decision-makers to effectively account for evolving and sporadically changing information in their subjective probability judgments. The research is conducted in a naturalistic setting where it is possible to measure the...

This paper investigates the origins of a widespread decision bias in betting markets, the favorite-longshot bias (FLB); in particular, whether it is caused by cognitive errors on the part of bettors or by the pricing policies of bookmakers. The methodology is based on previous literature, which...

Regulation is often employed to encourage the provision of readily interpretable, explicit information to betting markets in an effort to promote their efficiency. This approach is supported by a considerable volume of laboratory-based research which suggests that individuals make poor judgments...

Forecasting methods are routinely employed to predict the outcome of competitive events (CEs) and to shed light on the factors that influence participants’ winning prospects (e.g., in sports events, political elections). Combining statistical models’ forecasts, shown to be highly successful...

Betting markets have drawn much attention in the economics, finance and operational research literature because they provide a valuable window on the manner in which individuals use information in wider financial markets. One question that has received particular attention is to what extent...

Demographic characteristics of socially responsible investors (SRIs) are likely to play a significant role in shaping their perceptions and behaviour concerning corporate social responsibility (CSR). This paper identifies demographic characteristics of SRIs and explores the relationship of these...

The paper examines the potential of deep learning to produce decision support models from structured, tabular data. Considering the context of financial risk management, we develop a deep learning model for predicting whether individual spread traders are likely to secure profits from future...

We present a new model analyzing the effect of uncertainty faced by bookmakers. It is shown that bettors with inside information or expert analysis decrease the odds set by profit maximizing bookmakers. Data on previously unraced two year old horses and those that have raced previously are used...

We consider the links between training, the quality of labour and establishment performance, using a proxy for performance, commercial survival. We develop a model in which managers have varying beliefs about the efficacy of education and training, leading to potential variation in the optimal...