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Efficiency of racetrack betting markets [[electronic resource] /] / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba
| Efficiency of racetrack betting markets [[electronic resource] /] / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba |
| Edizione | [2008 ed.] |
| Pubbl/distr/stampa | River Edge, N.J., : World Scientific, 2008 |
| Descrizione fisica | 1 online resource (676 p.) |
| Disciplina | 338.4/7798401 |
| Altri autori (Persone) |
HauschDonald B
LoVictor S. Y ZiembaW. T |
| Collana | World Scientific Handbook in Financial Economics Series |
| Soggetto topico |
Horse racing - Betting
Horseplayers - Psychology |
| Soggetto genere / forma | Electronic books. |
| ISBN |
1-281-96828-5
9786611968281 981-281-919-3 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; Preface to 2008 Edition; Preface in 1994 Edition; List of Contributors; Acknowledgments; Introduction; PART I. PSYCHOLOGICAL STUDIES; Introduction to Psychological Studies D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Odds Adjustments by American Horse-Race Bettors R.M. Griffith; SUMMARY AND CONCLUSIONS; Stability of Choices among Uncertain Alternatives W.H. McGlothlin; PROBLEM; PROCEDURE; RESULTS; Discussion; SUMMARY; A Footnote on Horse Race Betting R.M. Griffith; Literature Cited; Biases in Betting: An Application of Laboratory Findings M.A. Metzger; METHOD; RESULTS; DISCUSSION
REFERENCES PART 11. UTILITY PREFERENCES OF RACETRACK BETTORS; Introduction to Utility Preferences of Racetrack Bettors D.B. Hausch, V.S.Y. Lo and W.T. Zieniba; On the Robustness of the Arrow-Pratt Risk Aversion Measure J.G. Kallberg and W.T. Ziemba; References; Utility Analysis and Group Behavior: An Empirical Study M. Weitzman; I. INTRODUCTION; 11. THE EXPECTED-UTILITY HYPOTHESIS; 111. EXPERIMENTAL BACKGROUND: THE RACE TRACK AND PARIMWTUEL BETTING; IV. THE EXPERIMENTAL PROBABILITY CURVE; V. FORMULATION OF THE MODEL MR. AVMART; VI. AVMART'S INDIFFERENCE CURVE VII. AVMART'S UTILITY OF MONEY CURVE VIII. CONCLUSION; Gambling and Rationality R.N. Rosett; I. INTRODUCTION; II. PARI-MUTUELBETTING; III. BETTING COMBINATIONS; Iv. THE TEEORETICAL RELATION BE- TWEEN RETURNS AND PROBA- BILITIES; V. RACE-TRACK DATA; VI. THE EMPIRICAL RELATION BETWEEN RETURN AND THE PROBABILITY OF WINNING; VII. CONCLUSIONS; APPENDIX A; APPENDIX B; APPENDIX C; Probability and Utility Estimates for Racetrack Bettors M.M. Ali; I. Probability Estimates; 11. Theoretical Explanation of the Differences between Subjective and Objective Probabilities; 111. Risk Attitudes; IV. Conclusion References PART 111. ECONOMIC AND MATHEMATICAL INSIGHTS; Introduction to Economic and Mathematical Insights D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Optimal Horse Race Bets R. Isaacs; 1. Introduction.; 2. The problem.; 3. The solution.; 4. Some ramifications.; Concavity Properties of Racetrack Betting Models J.G. Kallberg and W.T. Ziemba; REFERENCES; Optimal Bets in Pari-Mutuel Systems N. Levin; 1. Introduction; 2 . The General Deterministic Model; 3 . Linear utility **; 4 . Logarithmic utility; 5. The stochastic model; 6 . Conclusion; Acknowledgment Growth versus Security in Dynamic Investment Analysis L.C. MacLean, W.T. Ziemba and G. BlazenkoI . The Basic Investment Problem; 1.1. Measures of Growth; I .2. Measures of Security; 2. Computation of Measures; 3. Effective Growth-security Trade off; 4. Applications; 4. I . Blackjack: ( 6, p ); 4.2. Horseracing: ( p r , y,); 4.3. Lotto Games: (q, (3); 4.4. Playing the Turn of the Year- Effect with Iiides Furures: ( 4 , p ); References; Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races R.N. Bolton and R.G. Chapman; introduction The Pari-Mutuel System |
| Record Nr. | UNINA-9910452965003321 |
| River Edge, N.J., : World Scientific, 2008 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Efficiency of racetrack betting markets [[electronic resource] /] / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba
| Efficiency of racetrack betting markets [[electronic resource] /] / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba |
| Edizione | [2008 ed.] |
| Pubbl/distr/stampa | River Edge, N.J., : World Scientific, 2008 |
| Descrizione fisica | 1 online resource (676 p.) |
| Disciplina | 338.4/7798401 |
| Altri autori (Persone) |
HauschDonald B
LoVictor S. Y ZiembaW. T |
| Collana | World Scientific Handbook in Financial Economics Series |
| Soggetto topico |
Horse racing - Betting
Horseplayers - Psychology |
| ISBN |
1-281-96828-5
9786611968281 981-281-919-3 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; Preface to 2008 Edition; Preface in 1994 Edition; List of Contributors; Acknowledgments; Introduction; PART I. PSYCHOLOGICAL STUDIES; Introduction to Psychological Studies D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Odds Adjustments by American Horse-Race Bettors R.M. Griffith; SUMMARY AND CONCLUSIONS; Stability of Choices among Uncertain Alternatives W.H. McGlothlin; PROBLEM; PROCEDURE; RESULTS; Discussion; SUMMARY; A Footnote on Horse Race Betting R.M. Griffith; Literature Cited; Biases in Betting: An Application of Laboratory Findings M.A. Metzger; METHOD; RESULTS; DISCUSSION
REFERENCES PART 11. UTILITY PREFERENCES OF RACETRACK BETTORS; Introduction to Utility Preferences of Racetrack Bettors D.B. Hausch, V.S.Y. Lo and W.T. Zieniba; On the Robustness of the Arrow-Pratt Risk Aversion Measure J.G. Kallberg and W.T. Ziemba; References; Utility Analysis and Group Behavior: An Empirical Study M. Weitzman; I. INTRODUCTION; 11. THE EXPECTED-UTILITY HYPOTHESIS; 111. EXPERIMENTAL BACKGROUND: THE RACE TRACK AND PARIMWTUEL BETTING; IV. THE EXPERIMENTAL PROBABILITY CURVE; V. FORMULATION OF THE MODEL MR. AVMART; VI. AVMART'S INDIFFERENCE CURVE VII. AVMART'S UTILITY OF MONEY CURVE VIII. CONCLUSION; Gambling and Rationality R.N. Rosett; I. INTRODUCTION; II. PARI-MUTUELBETTING; III. BETTING COMBINATIONS; Iv. THE TEEORETICAL RELATION BE- TWEEN RETURNS AND PROBA- BILITIES; V. RACE-TRACK DATA; VI. THE EMPIRICAL RELATION BETWEEN RETURN AND THE PROBABILITY OF WINNING; VII. CONCLUSIONS; APPENDIX A; APPENDIX B; APPENDIX C; Probability and Utility Estimates for Racetrack Bettors M.M. Ali; I. Probability Estimates; 11. Theoretical Explanation of the Differences between Subjective and Objective Probabilities; 111. Risk Attitudes; IV. Conclusion References PART 111. ECONOMIC AND MATHEMATICAL INSIGHTS; Introduction to Economic and Mathematical Insights D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Optimal Horse Race Bets R. Isaacs; 1. Introduction.; 2. The problem.; 3. The solution.; 4. Some ramifications.; Concavity Properties of Racetrack Betting Models J.G. Kallberg and W.T. Ziemba; REFERENCES; Optimal Bets in Pari-Mutuel Systems N. Levin; 1. Introduction; 2 . The General Deterministic Model; 3 . Linear utility **; 4 . Logarithmic utility; 5. The stochastic model; 6 . Conclusion; Acknowledgment Growth versus Security in Dynamic Investment Analysis L.C. MacLean, W.T. Ziemba and G. BlazenkoI . The Basic Investment Problem; 1.1. Measures of Growth; I .2. Measures of Security; 2. Computation of Measures; 3. Effective Growth-security Trade off; 4. Applications; 4. I . Blackjack: ( 6, p ); 4.2. Horseracing: ( p r , y,); 4.3. Lotto Games: (q, (3); 4.4. Playing the Turn of the Year- Effect with Iiides Furures: ( 4 , p ); References; Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races R.N. Bolton and R.G. Chapman; introduction The Pari-Mutuel System |
| Record Nr. | UNINA-9910782352803321 |
| River Edge, N.J., : World Scientific, 2008 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Efficiency of racetrack betting markets / / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba
| Efficiency of racetrack betting markets / / edited by Donald B. Hausch, Victor S.Y. Lo, William T. Ziemba |
| Edizione | [2008 ed.] |
| Pubbl/distr/stampa | River Edge, N.J., : World Scientific, 2008 |
| Descrizione fisica | 1 online resource (676 p.) |
| Disciplina | 338.4/7798401 |
| Altri autori (Persone) |
HauschDonald B
LoVictor S. Y ZiembaW. T |
| Collana | World Scientific Handbook in Financial Economics Series |
| Soggetto topico |
Horse racing - Betting
Horseplayers - Psychology |
| ISBN |
1-281-96828-5
9786611968281 981-281-919-3 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; Preface to 2008 Edition; Preface in 1994 Edition; List of Contributors; Acknowledgments; Introduction; PART I. PSYCHOLOGICAL STUDIES; Introduction to Psychological Studies D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Odds Adjustments by American Horse-Race Bettors R.M. Griffith; SUMMARY AND CONCLUSIONS; Stability of Choices among Uncertain Alternatives W.H. McGlothlin; PROBLEM; PROCEDURE; RESULTS; Discussion; SUMMARY; A Footnote on Horse Race Betting R.M. Griffith; Literature Cited; Biases in Betting: An Application of Laboratory Findings M.A. Metzger; METHOD; RESULTS; DISCUSSION
REFERENCES PART 11. UTILITY PREFERENCES OF RACETRACK BETTORS; Introduction to Utility Preferences of Racetrack Bettors D.B. Hausch, V.S.Y. Lo and W.T. Zieniba; On the Robustness of the Arrow-Pratt Risk Aversion Measure J.G. Kallberg and W.T. Ziemba; References; Utility Analysis and Group Behavior: An Empirical Study M. Weitzman; I. INTRODUCTION; 11. THE EXPECTED-UTILITY HYPOTHESIS; 111. EXPERIMENTAL BACKGROUND: THE RACE TRACK AND PARIMWTUEL BETTING; IV. THE EXPERIMENTAL PROBABILITY CURVE; V. FORMULATION OF THE MODEL MR. AVMART; VI. AVMART'S INDIFFERENCE CURVE VII. AVMART'S UTILITY OF MONEY CURVE VIII. CONCLUSION; Gambling and Rationality R.N. Rosett; I. INTRODUCTION; II. PARI-MUTUELBETTING; III. BETTING COMBINATIONS; Iv. THE TEEORETICAL RELATION BE- TWEEN RETURNS AND PROBA- BILITIES; V. RACE-TRACK DATA; VI. THE EMPIRICAL RELATION BETWEEN RETURN AND THE PROBABILITY OF WINNING; VII. CONCLUSIONS; APPENDIX A; APPENDIX B; APPENDIX C; Probability and Utility Estimates for Racetrack Bettors M.M. Ali; I. Probability Estimates; 11. Theoretical Explanation of the Differences between Subjective and Objective Probabilities; 111. Risk Attitudes; IV. Conclusion References PART 111. ECONOMIC AND MATHEMATICAL INSIGHTS; Introduction to Economic and Mathematical Insights D.B. Hausch, V.S.Y. Lo and W.T. Ziemba; Optimal Horse Race Bets R. Isaacs; 1. Introduction.; 2. The problem.; 3. The solution.; 4. Some ramifications.; Concavity Properties of Racetrack Betting Models J.G. Kallberg and W.T. Ziemba; REFERENCES; Optimal Bets in Pari-Mutuel Systems N. Levin; 1. Introduction; 2 . The General Deterministic Model; 3 . Linear utility **; 4 . Logarithmic utility; 5. The stochastic model; 6 . Conclusion; Acknowledgment Growth versus Security in Dynamic Investment Analysis L.C. MacLean, W.T. Ziemba and G. BlazenkoI . The Basic Investment Problem; 1.1. Measures of Growth; I .2. Measures of Security; 2. Computation of Measures; 3. Effective Growth-security Trade off; 4. Applications; 4. I . Blackjack: ( 6, p ); 4.2. Horseracing: ( p r , y,); 4.3. Lotto Games: (q, (3); 4.4. Playing the Turn of the Year- Effect with Iiides Furures: ( 4 , p ); References; Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races R.N. Bolton and R.G. Chapman; introduction The Pari-Mutuel System |
| Record Nr. | UNINA-9910808222203321 |
| River Edge, N.J., : World Scientific, 2008 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||