OPTIMAL BETS IN PARI-MUTUEL SYSTEMS

Nissan Levin
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Nissan Levin: Faculty of management, Tel-Aviv University, Tel-Aviv, Israel

Chapter 15 in Efficiency of Racetrack Betting Markets, 2008, pp 109-125 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractModels of optimal betting in pari-mutuel systems, using a general utility function, are discussed. A theorem showing the relative attractiveness of each outcome (“horse”) is given. Some special cases of the linear utility model are considered. An algorithm is presented for the logarithmic utility. The case where the public bets are random random variables is also analyzed.

Keywords: Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance (search for similar items in EconPapers)
Date: 2008
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