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An examination of the determinants of biased behaviour in a market for state contingent claims

Bruce, Alistair; Johnson, Johnnie E. V.; Peirson, John D.; … - In: Economica 76 (2009), pp. 282-303

Persistent link: https://www.econbiz.de/10003823631

Revealing weak-form inefficiency in a market for state contingent claims : the importance of market ecology, modelling procedures and investment strategies

Sung, Ming-chien; Johnson, Johnnie E. V. - In: Economica 77 (2010), pp. 128-147

Persistent link: https://www.econbiz.de/10003947866

Towards an understanding of the origins of the favourite-longshot bias : evidence from online poker markets, a real-money natural laboratory

Vaughan Williams, Leighton; Sung, Ming-chien; … - In: Economica 85 (2018) 338, pp. 360-382

Persistent link: https://www.econbiz.de/10011952464

An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims

BRUCE, ALISTAIR C.; JOHNSON, JOHNNIE E. V.; PEIRSON, JOHN D. - In: Economica 76 (2009) 302, pp. 282-303

We develop a model to explain the differential incidence of the favourite-longshot bias in parallel sectors of the pari-mutuel horserace betting market. Hypotheses are derived from the model and these are tested, using UK data, to explore the origins of the bias. Significant variations in the...

Persistent link: https://www.econbiz.de/10005683079

Revealing Weak-Form Inefficiency in a Market for State Contingent Claims: The Importance of Market Ecology, Modelling Procedures and Investment Strategies

SUNG, M.; JOHNSON, J. E. V. - In: Economica 77 (2010) 305, pp. 128-147

This paper examines the degree to which current prices discount historical prices in a market for state contingent claims. Conditional logit analysis is employed to predict winning probabilities, based on market prices in a betting market. These are used, together with various wagering...

Persistent link: https://www.econbiz.de/10008583216