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Is there an optimistic bias on betting markets?

Lionel Page ()

Economics Letters, 2009, vol. 102, issue 2, 70-72

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.

Keywords: Football; Soccer; Wishful; thinking; Betting; odds (search for similar items in EconPapers)
Date: 2009
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Handle: RePEc:eee:ecolet:v:102:y:2009:i:2:p:70-72