In the past European club football provided a textbook example of the "soft budget constraints phenomenon" initially described by Janos Kornai. As a remedy UEFA introduced the Club Licensing and Financial Fair Play Regulations (FFP). The Break-Even Requirement and the Fair Market Value Principle...

This paper examines whether the outcome bias harms price efficiency in betting exchange markets. In soccer, the match outcome is an unreliable performance measure, as it underestimates the high level of randomness involved in the sport. If bettors overestimate the importance of past match...

This paper investigates whether the sentimental preferences of investors influence market efficiency. We use a betting exchange market environment to analyze the influence of sentimental bettors on market efficiency in 2,333 soccer matches played between 2006-2014 during the last three hours of...

This paper examines whether individuals' decision making is affected by fast-sounding horse names in a betting exchange market environment. In horse racing, the name of a horse does not depend on the horse's performance and is thus uninformative. If positive affect towards fast-sounding horse...

We examine whether the moment just before the halftime break is a particularly good time to score a goal. Using detailed data from the top five European football leagues between the 2013/14 and 2017/18 seasons, we exploit the quasi-random occurrence of goals scored just before and just after the...

We examine how interruptions and personal and contextual factors affect the manifestation of psychological momentum (PM). Using men's singles tennis point-by-point data from the two Grand Slam tournaments, Wimbledon and Roland Garros, between 2009 and 2014 (N=29,934), we employ realized break...