The favourite-longshot bias in parimutuel betting: A clarification of the explanation that bettors like to bet longshots

DOI10.1016/S0165-1765(96)00870-1zbMath0900.90071MaRDI QIDQ673206

William Hurley, Lawrence McDonough

Publication date: 28 February 1997

Published in: Economics Letters (Search for Journal in Brave)

zbMATH Keywords

gamblingparimutuelshort-sellingtransactions cost

Mathematics Subject Classification ID

Utility theory (91B16) Probabilistic games; gambling (91A60)

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