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of the probability of a horse winning—longshots are overbet, while favorites are underbet. Neoclassical explanations of … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. …
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Golden-Ten is an observation game in which players try to predict the outcome of the motion of a ball rolling down the surface of a drum.This paper describes the motion of the ball as a stochastic model, based on a deterministic, mechanical model.To this end, the motion is split into several...
Persistent link: https://www.econbiz.de/10011086710
Persistent link: https://www.econbiz.de/10011086950
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