英文标题：
《High-Roller Impact: A Large Generalized Game Model of Parimutuel
Wagering》
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作者：
Erhan Bayraktar and Alexander Munk
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最新提交年份：
2017
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英文摘要：
How do large-scale participants in parimutuel wagering events affect the house and ordinary bettors? A standard narrative suggests that they may temporarily benefit the former at the expense of the latter. To approach this problem, we begin by developing a model based on the theory of large generalized games. Constrained only by their budgets, a continuum of diffuse (ordinary) players and a single atomic (large-scale) player simultaneously wager to maximize their expected profits according to their individual beliefs. Our main theoretical result gives necessary and sufficient conditions for the existence and uniqueness of a pure-strategy Nash equilibrium. Using this framework, we analyze our question in concrete scenarios. First, we study a situation in which both predicted effects are observed. Neither is always observed in our remaining examples, suggesting the need for a more nuanced view of large-scale participants.
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中文摘要：
parimutuel赌博活动的大规模参与者如何影响豪斯和普通投注者？一个标准的叙述表明，它们可能会暂时让前者受益，而牺牲后者。为了解决这个问题，我们首先开发了一个基于大型广义博弈理论的模型。仅受预算限制，分散（普通）玩家和单个原子（大规模）玩家同时根据各自的信念进行赌注，以实现预期利润最大化。我们的主要理论结果给出了纯策略纳什均衡存在唯一的充要条件。利用这个框架，我们在具体场景中分析我们的问题。首先，我们研究了两种预测效应都被观察到的情况。在我们剩下的例子中，这两种情况都不常见，这表明需要对大规模参与者进行更细致的观察。
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分类信息：

一级分类：Mathematics 数学
二级分类：Optimization and Control 优化与控制
分类描述：Operations research, linear programming, control theory, systems theory, optimal control, game theory
运筹学，线性规划，控制论，系统论，最优控制，博弈论
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一级分类：Mathematics 数学
二级分类：Probability 概率
分类描述：Theory and applications of probability and stochastic processes: e.g. central limit theorems, large deviations, stochastic differential equations, models from statistical mechanics, queuing theory
概率论与随机过程的理论与应用：例如中心极限定理，大偏差，随机微分方程，统计力学模型，排队论
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一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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