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There have been many attempts, theoretical and empirical, to explain the persistence of a favorite-longshot bias in various horse betting markets. Most recently, Snowberg and Wolfers (2010) have shown that the data for the US markets support a misperceptions of probability approach in line with...
Persistent link: https://www.econbiz.de/10010335979
models. We propose a new method, called a regression tournament, to assess the utility of forecasting models and taking these …
Persistent link: https://www.econbiz.de/10010336004
importantly to the fact that we have yet to develop accurate forecasting models. Animals, however, have been forced through …
Persistent link: https://www.econbiz.de/10010336016
This paper uses a new variable based on estimates of insider trading to forecast the outcome of horse races. We base … presence of insiders leads opening prices to deviate from true winning probabilities. Under these circumstances, forecasting of …
Persistent link: https://www.econbiz.de/10010336039
This paper considers the impact of insider trading on forecasting in a betting market when prices are set by bookmakers …, forecasting of race outcomes should take into account an estimate of the extent of insider trading per horse. We show that the …
Persistent link: https://www.econbiz.de/10010336069
The purpose of this paper is to make a novel contribution to the literature on the prediction market for the Australian Football League, the major sports league in which Australian Rules Football is played. Taking advantage of a novel micro-level data set which includes detailed per-game player...
Persistent link: https://www.econbiz.de/10010336072
In this paper, we test two different kinds of bias; the favorite-longshot/favorite-underdog and the home team bias, and distinguish between the two, using a distinctive feature of the Australian Football League (AFL), that many games are played on neutral grounds. This is the first empirical...
Persistent link: https://www.econbiz.de/10010336075
After a comparative study of the Lee-Carter forecasting method and looking into the direct extrapolation of mortality … short-run efficiency is improved by building the forecast on data from the most recent periods of age/sex-specific duration …
Persistent link: https://www.econbiz.de/10010352565
yield curve where the informational advantage exists and transmits the superior forecasting ability to all remaining yields …, without the need to explicitly model it. We document that anchoring delivers large and significant gains in forecast accuracy … are widely adopted by financial and policy institutions for forecasting the term structure of interest rates. …
Persistent link: https://www.econbiz.de/10010368212
Seit der Einführung des Euro-Bargelds ist der Umlauf deutscher Banknoten außerordentlich stark gestiegen. Vor allem der Auslandsumlauf spielt dabei eine Rolle - und hier wiederum der Umlauf außerhalb des Euroraums. Die Autoren schätzen die regionale Verteilung dieses Umlaufs mithilfe...
Persistent link: https://www.econbiz.de/10010368494