I document market inefficiency in the sports lottery market and examine how participants learn from such inefficiency. Using a novel, parimutuel type sports lottery data in Korea, I show that participants underbet certain outcomes relative to their realized probability. The magnitude of this...

This study finds that the extremeness aversion bias documented in decision making studies exists in the sports betting market in which real money is at stake. The magnitude of the bias is large that a naive betting strategy utilizing this bias, since the betting market's inception in 2008...

This study examines the determinants of member customers' decision to redeem versus accumulate loyalty program (LP) points by focusing on the effects of the different transaction channels (online versus offline) and the demographic information of member customers. This study finds that...

While the Helpman-Trajtenberg model is successful in explaining the macroeconomic cycle generated by GPT in the context of a closed economy, open-economy implications regarding GPT have received scant attention. We seek to fill such void in the previous literature by developing a dynamic...