The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. -- Pricing under risk ; probability … weighting ; compound lotteries ; favorite-longshot bias …

The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. -- pricing under risk ; probability … ; weighting ; compound lotteries ; favourite-longshot bias …

based on proper science. The present paper explores sources of bias in the methods used to evaluate environmental policy in …

present bias and naivety in the under-utilization of this preventive health care. Our results show evidence for both present … bias and naivety"--National Bureau of Economic Research web site …