摘要翻译:
本文在两个关于投注者行为的假设下,提出了一个模拟对偶投注系统赔率分布的模型:1。随着投注截止日期的临近,投注量迅速增加。2.每个投注者在一匹马上下注,这匹马给出了最大的利益期望值。这些结果可以解释为这种有效的行为并不能消除外语偏向,甚至会产生更强的外语偏向。
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英文标题:
《Efficiency in Micro-Behaviors and FL Bias》
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作者:
Kurihara Kazutaka and Yohei Tutiya
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最新提交年份:
2018
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分类信息:
一级分类:Economics 经济学
二级分类:Econometrics 计量经济学
分类描述:Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论,微观计量经济学,宏观计量经济学,通过新方法发现的经济关系的实证内容,统计推论应用于经济数据的方法论方面。
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英文摘要:
In this paper, we propose a model which simulates odds distributions of pari-mutuel betting system under two hypotheses on the behavior of bettors: 1. The amount of bets increases very rapidly as the deadline for betting comes near. 2. Each bettor bets on a horse which gives the largest expectation value of the benefit. The results can be interpreted as such efficient behaviors do not serve to extinguish the FL bias but even produce stronger FL bias.
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PDF链接:
https://arxiv.org/pdf/1805.04225