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Time to Unbridle U.S. Thoroughbred Racetracks? Lessons from Australian Bookies
Moul, Charles; Keller, Joseph - In: Review of Industrial Organization 44 (2014) 3, pp. 211-239
examining bookie behavior in Australia’s fixed-odds gambling sector. Descriptive regressions indicate that bookmaker takeouts …
Persistent link: https://www.econbiz.de/10010988277
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A Model of Casino Gambling
Barberis, Nicholas - In: Management Science 58 (2012) 1, pp. 35-51
We show that prospect theory offers a rich theory of casino gambling, one that captures several features of actual … gambling behavior. First, we demonstrate that for a wide range of preference parameter values, a prospect theory agent would be … moment he enters a casino, the agent plans to follow one particular gambling strategy; but after he starts playing, he wants …
Persistent link: https://www.econbiz.de/10010990606
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On the tractability of the piecewise-linear approximation for general discrete-choice network revenue management
Kunnumkal, Sumit; Talluri, Kalyan - Department of Economics and Business, Universitat … - 2014
The choice network revenue management (RM) model incorporates customer purchase behavior as customers purchasing products with certain probabilities that are a function of the offered assortment of products, and is the appropriate model for airline and hotel network revenue management, dynamic...
Persistent link: https://www.econbiz.de/10010849604
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Modeling Consumers' Participation in Gambling Markets and Frequency of Gambling
Humphreys, Brad; Lee, Yang Seung; Soebbing, Brian P. - In: Journal of Gambling Business and Economics 5 (2011) 1, pp. 1-22
Survey data on participation in gambling typically contain many zeros. The presence of many zeros presents … methodological problems for the analysis of participation in gambling markets and gambling expenditure. The most common techniques … for handling zeros in gambling data have been the Tobit estimator and the Heckman selectivity estimator. Recent research …
Persistent link: https://www.econbiz.de/10010850168
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Revisting the "Hot Hand" Hypothesis in the NBA Betting Market Using Actual Sportsbook Betting Percentages on Favorites and Underdogs
Paul, Rodney; Weinbach, Andrew; Humphreys, Brad - In: Journal of Gambling Business and Economics 5 (2011) 2, pp. 42-56
The “hot hand” hypothesis was first investigated in sports betting markets by Camerer (1989) and Brown and Sauer (1993), who examined if professional basketball teams truly could become “hot”, implying a change in their actual skill level, and if the betting market believes teams become...
Persistent link: https://www.econbiz.de/10010850169
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On the Tractability of the Piecewiselinear Approximation for General Discrete-Choice Network Revenue Management
Kunnumkal, Sumit; Talluri, Kalyan - Barcelona Graduate School of Economics (Barcelona GSE) - 2014
The choice network revenue management (RM) model incorporates customer purchase behavior as customers purchasing products with certain probabilities that are a function of the offered assortment of products, and is the appropriate model for airline and hotel network revenue management, dynamic...
Persistent link: https://www.econbiz.de/10010851454
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Is it Betrayal Aversion or Regret Aversion ?
Aharon, Itzhak - In: Recherches économiques de Louvain 78 (2012) 3, pp. 101-114
Social and economic exchanges often occur between strangers who cannot rely on past behavior or the prospect of future interactions to establish mutual trust. Game theorists formalize this problem in several "one-shot? game ? such as the trust game - predicting noncooperation ? since the...
Persistent link: https://www.econbiz.de/10010852465
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Penny Auctions are Unpredictable
Hinnosaar, Toomas - Collegio Carlo Alberto, Università degli Studi di Torino - 2013
gambling or both. I propose a tractable model of penny auctions and show that the high variance of outcomes is a property of …
Persistent link: https://www.econbiz.de/10010862062
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Gambling with Stimulus Payments: Feeding Gaming Machines with Federal Dollars
Hirschberg, Joe; Lye, Jenny - Department of Economics, Faculty of Business and Economics - 2013
In late 2008 and early 2009 the Australian Federal Government introduced a series of economic stimulus packages designed to maintain consumer spending in the early days of the Great Recession. When these packages were initiated the media suggested that the wide-spread availability of electronic...
Persistent link: https://www.econbiz.de/10010903396
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An Analysis of the Last Hour of Betting in the NFL
Paul, Rodney J.; Weinbach, Andrew P. - In: International Journal of Sport Finance 6 (2011) 4, pp. 307-316
The last hour of betting for the wagering market in the National Football League (NFL) was examined. In a sample of offshore sportsbooks, nearly a quarter of all bets on NFL games occured in the last hour before kickoff. Bets were shown not to be balanced between each side of the betting...
Persistent link: https://www.econbiz.de/10010905505