Showing 1 - 10 of 1,025,070
Persistent link: https://www.econbiz.de/10001621797
Persistent link: https://www.econbiz.de/10010198968
Persistent link: https://www.econbiz.de/10001485302
Persistent link: https://www.econbiz.de/10000975629
Persistent link: https://www.econbiz.de/10001340205
Persistent link: https://www.econbiz.de/10003823631
Herding is often considered as a phenomenon that drives prices of risky assets away from their equilibrium levels. In this paper we study the on-course UK and Australian horse betting markets. These are simple examples of imperfect markets for state-contingent assets. We provide strong evidence...
Persistent link: https://www.econbiz.de/10008934028
Persistent link: https://www.econbiz.de/10003766394
Persistent link: https://www.econbiz.de/10011760279
We investigate in this paper the attitudes toward risk of bettors in British horse races. The model we use allows us to … models. On the other hand, cumulative prospect theory has higher explanatory power. Our preferred estimates suggest a pattern … of local risk-aversion similar to that proposed by Friedman-Savage …
Persistent link: https://www.econbiz.de/10014217895