. -- Ratio bias ; financial incentives ; error rates ; experiment …The ratio bias - according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to … researchers especially in health economics emphasizing the policy importance of the phenomenon. Although the bias has been …

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 …