Download or read book Loss aversion and mental accounting the favorite longshot bias in parimutuel betting written by Jianying Qiu and published by . This book was released on 2009 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Aversion and Favorite longshot Bias in a Competitive Fixed odds Betting Market written by Karl Whelan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on sports betting markets has generally found a favorite-longshot bias, the empirical pattern for loss rates for bets on longshots to be higher than for favorites, which implies the odds do not reflect the underlying probabilities. The existing literature focuses largely on pari-mutuel betting but favorite-longshot bias is also evident in fixed-odds online betting markets of the type that are growing rapidly around the world. Explanations for this bias in previous work on pari-mutuel markets cannot explain why it would be a feature of competitive fixed-odds betting markets. We show how disagreement among gamblers and risk-aversion on the part of bookmakers in a competitive market can produce a pattern of favorite-longshot bias resembling the empirical evidence.
Download or read book Information Efficiency in Financial and Betting Markets written by Leighton Vaughan Williams and published by Cambridge University Press. This book was released on 2005-09-29 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The degree to which markets incorporate information is one of the most important questions facing economists today. This book provides a fascinating study of the existence and extent of information efficiency in financial markets, with a special focus on betting markets. Betting markets are selected for study because they incorporate features highly appropriate to a study of information efficiency, in particular the fact that each bet has a well-defined end point at which its value becomes certain. Using international examples, this book reviews and analyses the issue of information efficiency in both financial and betting markets. Part I is an extensive survey of the existing literature, while Part II presents a range of readings by leading academics. Insights gained from the book will interest students of financial economics, financial market analysts, mathematicians and statisticians, and all those with a special interest in finance or gambling.
Download or read book Efficiency of Racetrack Betting Markets written by Donald B. Hausch and published by World Scientific. This book was released on 2008 with total page 679 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.
Download or read book Handbook of Sports and Lottery Markets written by Donald B. Hausch and published by Elsevier. This book was released on 2011-08-11 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: Its basic empirical research and investigation of pure theories of investment in the sports and lottery markets make this volume a winner. These markets are simpler to study than traditional financial markets, and their expected values and outcomes are uncomplicated. By means of new overviews of scholarship on the industry side of racetrack and other betting markets to betting exchanges and market efficiencies, contributors consider a variety of sports in countries around the world. The result is not only superior information about market forecasting, but macro- and micro-analyses that are relevant to other markets. - Easily studied sports markets reveal features relevant for more complex traditional financial markets - Significant coverage of sports from racing to jai alai - New studies of betting exchanges and Internet wagering markets
Download or read book Advances in Behavioral Economics written by Colin F. Camerer and published by Princeton University Press. This book was released on 2011-12-12 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.
Download or read book Lectures on Functional Equations and Their Applications written by J. Aczel and published by Courier Corporation. This book was released on 2006-02-01 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Numerous detailed proofs highlight this treatment of functional equations. Starting with equations that can be solved by simple substitutions, the book then moves to equations with several unknown functions and methods of reduction to differential and integral equations. Also includes composite equations, equations with several unknown functions of several variables, vector and matrix equations, more. 1966 edition.
Download or read book Behavioral Decision Theory written by Kazuhisa Takemura and published by Springer Nature. This book was released on 2021-09-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second edition of Behavioral Decision Theory, published in 2014. The main approach and structure of this book have been retained in the new edition. However, this second edition provides a fresh overview of the idea of behavioral decision theory and related research findings such as theoretical and empirical discoveries of preference formation, time discounting, social interaction, and social decision making. The book covers a wide range from classical to relatively recent major studies concerning behavioral decision theory, which, in brief, is a general term for descriptive theories to explain the psychological knowledge related to people’s decision-making behavior. It is called a theory but is actually a combination of various psychological theories, for which no axiomatic systems—such as those associated with the utility theory widely used in economics—have been established. The utility theory is often limited to qualitative knowledge; however, as the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have suggested, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering and are expected to become even more useful in the future. Research into people’s decision making represents an important part in those fields, various aspects of which overlap with the scope of behavioral decision theory. This theory is closely related to behavioral economics and behavioral finance, which have come into greater use in recent years. This book will appeal especially to graduate students, advanced undergraduate students, and researchers who are interested in decision-making phenomena.
Download or read book Trading Bases written by Joe Peta and published by Penguin. This book was released on 2014-03-04 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: An ex–Wall Street trader improved on Moneyball’s famed sabermetrics and beat the Vegas odds with his own betting methods. Here is the story of how Joe Peta turned fantasy baseball into a dream come true. Joe Peta turned his back on his Wall Street trading career to pursue an ingenious—and incredibly risky—dream. He would apply his risk-analysis skills to Major League Baseball, and treat the sport like the S&P 500. In Trading Bases, Peta takes us on his journey from the ballpark in San Francisco to the trading floors and baseball bars of New York and the sportsbooks of Las Vegas, telling the story of how he created a baseball “hedge fund” with an astounding 41 percent return in his first year. And he explains the unique methods he developed. Along the way, Peta provides insight into the Wall Street crisis he managed to escape: the fragility of the midnineties investment model; the disgraced former CEO of Lehman Brothers, who recruited Peta; and the high-adrenaline atmosphere where million-dollar sports-betting pools were common.
Download or read book Betting to Win written by Leighton Vaughan Williams and published by No Exit Press. This book was released on 2003-01-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on academic research, this book explains the various betting forums and techniques available to aid a professional betting strategy for all levels of punters. It covers the wide variety of fixed-odds markets across the world, but also spread betting, pari-mutuel, and Tote betting, and focuses also on the recent explosion of interest in person-to-person betting exchanges.
Download or read book Computer Based Horse Race Handicapping and Wagering Systems written by Bill Benter and published by Diana. This book was released on 2020-02-14 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gambler Who Cracked the Horse-Racing Code Bill Benter did the impossible: He wrote an algorithm that couldn't lose at the track. Close to a billion dollars later, he tells his system. This book examines the elements necessary for a practical and successful computerized horse race handicapping and wagering system. Data requirements, handicapping model development, wagering strategy, and feasibility are addressed. A logit-based technique and a corresponding heuristic measure of improvement are described for combining a fundamental handicapping model with the public's implied probability estimates. The author reports significant positive results in five years of actual implementation of such a system. This result can be interpreted as evidence of inefficiency in pari-mutuel racetrack wagering. This paper aims to emphasize those aspects of computer handicapping which the author has found most important in practical application of such a system. Also included the Bill Benter "What Are My Odds?" Presentation at ICCM in 2004.
Download or read book A History of the Theory of Investments written by Mark Rubinstein and published by John Wiley & Sons. This book was released on 2011-09-02 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This exceptional book provides valuable insights into the evolution of financial economics from the perspective of a major player." -- Robert Litzenberger, Hopkinson Professor Emeritus of Investment Banking, Univ. of Pennsylvania; and retired partner, Goldman Sachs A History of the Theory of Investments is about ideas -- where they come from, how they evolve, and why they are instrumental in preparing the future for new ideas. Author Mark Rubinstein writes history by rewriting history. In unearthing long-forgotten books and journals, he corrects past oversights to assign credit where credit is due and assembles a remarkable history that is unquestionable in its accuracy and unprecedented in its power. Exploring key turning points in the development of investment theory, through the critical prism of award-winning investment theory and asset pricing expert Mark Rubinstein, this groundbreaking resource follows the chronological development of investment theory over centuries, exploring the inner workings of great theoretical breakthroughs while pointing out contributions made by often unsung contributors to some of investment's most influential ideas and models.
Download or read book The Stochastic Programming Approach to Asset Liability and Wealth Management written by W. T. Ziemba and published by Research Foundation of Aimr. This book was released on 2003 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Behavioral Economics written by Brandon Lehr and published by Routledge. This book was released on 2021-08-11 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike.
Download or read book The New York Times Manual of Style and Usage 5th Edition written by Allan M. Siegal and published by Crown. This book was released on 2015-09-29 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The premier source for journalists, now revised and updated for 2015. Does the White House tweet? Or does the White House post on Twitter? Can "text" be a verb and also a noun? When should you link? For anyone who writes--short stories or business plans, book reports or news articles--knotty choices of spelling, grammar, punctuation and meaning lurk in every line: Lay or lie? Who or whom? That or which? Is Band-Aid still a trademark? It's enough to send you in search of a Martini. (Or is that a martini?) Now everyone can find answers to these and thousands of other questions in the handy alphabetical guide used by the writers and editors of the world's most authoritative news organization. The guidelines to hyphenation, punctuation, capitalization and spelling are crisp and compact, created for instant reference in the rush of daily deadlines. The 2015 edition is a revised and condensed version of the classic guide, updated with solutions to problems that plague writers in the Internet age: · How to cite links and blogs · How to handle tweets, hashtags and other social-media content · How to use current terms like “transgender,” or to choose thoughtfully between "same-sex marriage" and "gay marriage" With wry wit, the authors have created an essential and entertaining reference tool.
Download or read book Namath A Biography written by Mark Kriegel and published by Penguin. This book was released on 2005-07-26 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: In between Babe Ruth and Michael Jordan there was Joe Namath, one of the few sports heroes to transcend the game he played. Novelist and former sports-columnist Mark Kriegel’s bestselling biography of the iconic quarterback details his journey from steel-town pool halls to the upper reaches of American celebrity—and beyond. The first of his kind, Namath enabled a nation to see sports as show biz. For an entire generation he became a spectacle of booze and broads, a guy who made bachelorhood seem an almost sacred calling, but it was his audacious “guarantee” of victory in Super Bowl III that ensured his legend. This unforgettable portrait brings readers from the gridiron to the go-go nightclubs as Kriegel uncovers the truth behind Broadway Joe and why his legend has meant so much to so many.
Download or read book Anagram Solver written by Bloomsbury Publishing and published by Bloomsbury Publishing. This book was released on 2009-01-01 with total page 719 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anagram Solver is the essential guide to cracking all types of quiz and crossword featuring anagrams. Containing over 200,000 words and phrases, Anagram Solver includes plural noun forms, palindromes, idioms, first names and all parts of speech. Anagrams are grouped by the number of letters they contain with the letters set out in alphabetical order so that once the letters of an anagram are arranged alphabetically, finding the solution is as easy as locating the word in a dictionary.
