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| Author: | Bruce, A. C. Johnson, J. E. V. |
| Title: | Investigating the roots of the favourite-longshot bias: an analysis of decision making by supply - and demand-side agents in parallel betting markets |
| Journal: | Journal of Behavioral Decision Making
2000 : OCT-DEC, VOL. 13:4, p. 413-430 |
| Index terms: | Decision making Risk management Gambling industry Supply and demand |
| Freeterms: | Bias |
| Language: | eng |
| Abstract: | The aim of this paper is to further the understanding of a behavioural phenomenon which has become an empirically well-established feature of betting markets. This study analyses a new data source which offers detailed information for a larfge sample of recent UK horseraces on decision-making behaviour within the parimutuel and the parallel bookmaker-based betting markets. |
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