Why is there a favourite-longshot bias in British racetrack betting markets?

Economic Journal

Volumn 107, Issue 440, 1997, Pages 150-158

  Williams, Leighton Vaughan ^a   Paton, David ^a  

^a NOTTINGHAM TRENT UNIVERSITY   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0002554095     PISSN: 00130133     EISSN: None     Source Type: Journal    
DOI: 10.1111/1468-0297.00147     Document Type: Article

References (13)

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9. Shin, H. S. (1991). 'Optimal betting odds against insider traders'. ECONOMIC JOURNAL, vol. 101, pp. 1179-85.
10. Shin, H. S. (1992). 'Prices of state contingent claims with insider traders, and the favourite-longshot bias'. ECONOMIC JOURNAL, vol. 102, pp. 426-35.
11. Shin, H. S. (1993). 'Measuring the incidence of insider trading in a market for state-contingent claims'. ECONOMIC JOURNAL, vol. 103, pp. 1141-53.
12. Thaler, R. and Ziemba, W. (1988). 'Parimutuel betting markets: racetracks and lotteries'. Journal of Economic Perspectives, vol. 2, pp. 161-74.
13. Tuckwell, R. (1983). 'The thoroughbred gambling market: efficiency, equity and related issues'. Australian Economic Papers, vol. 22, June, pp. 106-8.