Is there an optimistic bias on betting markets? |
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| Authors: | Lionel Page |
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| Affiliation: | 1. School of Business Administration, Northeastern University, Shenyang, 110819, China;2. School of Information Technology, Jiangxi University of Finance and Economics, Nanchang, 330013, China;3. School of Business Administration, Acadia University, Wolfville, NS, B4P 2R6, Canada;1. Department of Information and Finance Management, National Taipei University of Technology, Taipei, Taiwan;2. Department of Finance, National United University, Miaoli, Taiwan;3. Department of Electrical Engineering, National Tsing Hua University, Hsinchu, Taiwan;4. School of Computer and Technology, Shandong University of Science and Technology, China |
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| Abstract: | Bettors are subject to an optimistic bias when betting on the team they support. This paper shows that this individual bias does not affect betting odds on British teams in association football (soccer), as it is often argued. |
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