The disposition effect describes the tendency of investors to sell assets that have increased in value since purchase, and hold those that have not. We analyse the introduction of betting market `Cash-Outs', which provide a continual update - and therefore increase the salience - of bettors'...

Prediction markets have proved excellent tools for forecasting, outperforming experts and polls in many settings. But do larger markets, with wider participation, perform better than smaller markets? In this paper we analyse a series of repeated natural experiments in sports betting. The Queen's...