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On the tractability of the piecewise-linear approximation for general discrete-choice network revenue management

Kunnumkal, Sumit; Talluri, Kalyan - Department of Economics and Business, Universitat … - 2014

The choice network revenue management (RM) model incorporates customer purchase behavior as customers purchasing products with certain probabilities that are a function of the offered assortment of products, and is the appropriate model for airline and hotel network revenue management, dynamic...

Persistent link: https://www.econbiz.de/10010849604

Gamblers' Rationality in Parimutuel Soccer Betting

Hauser, Ursula; Koenig, Ulrich; Krylova, Elizaveta - Department of Economics and Finance Research and … - 2000

A model for strategic behaviour in parimutuel gambles with unequal winning-probabilities is developed and applied to gambles based on soccer results. Assuming that the bookmakers' quotas reflect the true probability of each possible result of a soccer game, we are able to derive a formula for...

Persistent link: https://www.econbiz.de/10005247723

Mega-Sporting Events in Developing Nations : Playing the Way to Prosperity?

Matheson, Victor; Baade, Robert A. - Economics Department, Williams College - 2003

Supporters of mega-sporting events such as the World Cup and Olympics claim that these events attract hoards of wealthy visitors and lead to lasting economic benefits for the host regions. For this reason, cities and countries compete vigorously for the right to stage these spectacles. Recently,...

Persistent link: https://www.econbiz.de/10008679096

Navigating the Legal Risks of Daily Fantasy Sports : A Detailed Primer in Federal and State Gambling Law

Edelman, Marc - 2016

Over the past two years, there has been a monumental shift in how U.S. professional sports leagues have perceived … “daily fantasy sports.” Back in March 2013, the chief executive of Major League Baseball Advanced Media, Robert Bowman, told … the New York Times that he perceived “daily fantasy sports” as “akin to a flip of the coin, which is the definition of …

Persistent link: https://www.econbiz.de/10013004999

Sports Betting Has an Equal Sovereignty Problem

Rodenberg, Ryan M. - 2017

We find PASPA's partial and non-uniform ban on state-sponsored sports wagering to run afoul of the equal sovereignty … sports gambling-specific dispute, the appropriate remedy would be to sever out § 3704's differential grandfather clause, not …

Persistent link: https://www.econbiz.de/10012947861

Inevitable : Sports Gambling, State Regulation, and the Pursuit of Revenue

Kaburakis, Anastasios - 2015

through a federal sports gambling lawsuit involving New Jersey. However, the ongoing lawsuit between a plaintiff quintet of … the most powerful sports entities in the United States — the National Collegiate Athletic Association (“NCAA”), the … Office of the Commissioner of Major League Baseball (“MLB”) (collectively “sports leagues”) — and the Governor of New Jersey …

Persistent link: https://www.econbiz.de/10013030660

Market efficiency and censoring bias in college football gambling

Arscott, Robert - 2022

The team totals and point spread betting lines jointly predict team scores in college football games. The gambling market's score predictions are shown to be biased due to censoring at zero points. This presents arbitrage opportunities for gamblers who place wagers on the team totals line in...

Persistent link: https://www.econbiz.de/10014030116

Calculating the bookmaker's margin : why bets lose more on average than you are warned

Hegarty, Tadgh; Whelan, Karl - 2023

odds. Guides to sports betting tell bettors how to do this calculation of the predicted average loss rate. We show that if …

Persistent link: https://www.econbiz.de/10013556861

Forecasting soccer matches with betting odds : a tale of two markets

Hegarty, Tadgh; Whelan, Karl - 2023

We compare the properties of betting market odds set in two distinct markets for a large sample of European soccer matches. We confirm inefficiencies in the traditional market for bets on a home win, an away win or a draw as found in previous studies such as Angelini and De Angelis (2019), in...

Persistent link: https://www.econbiz.de/10013556864

European Union Gambling at the Intersection of Policy and Litigation

Kaburakis, Anastasios - 2011

Given its high level of regulation, the gambling industry must be able to react quickly to litigation and resulting change in policy (and enforcement thereof). Using a case study approach, this short paper highlights how the twin issues of policy and litigation have recently impacted the...

Persistent link: https://www.econbiz.de/10013117137