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The purpose of this paper is to empirically test the association of behavioral biases like overconfidence bias and self …-attribution bias, and information acquisition with individual investors decisions. This study also extends its contributions in … biases (overconfidence bias and self-attribution bias) distort the rationality of individual investors’ decision, and …
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We use novel data on individual activity in a sports betting market to study the effect of past performance sequences on individual behavior in a real market. The revelation of fundamental values in this market enables us to disentangle whether behavior is caused by sentiment or by superior...
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This paper examines whether the outcome bias harms price efficiency in betting exchange markets. In soccer, the match … overstated for previously lucky teams and understated for previously unlucky teams. Consistent with the outcome bias, the betting … community overestimates the importance of past match outcomes. Consequently, this bias translates into significantly negative …
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