POST POSITION BIAS: An Econometric Analysis of the 1987 Season at Exhibition Park

Sandra Betton
Additional contact information
Sandra Betton: Department of Finance, University of British Columbia, Canada

Chapter 50 in Efficiency of Racetrack Betting Markets, 2008, pp 511-526 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper investigates the existence of a post position bias during the 1987 racing season at Exhibition Park. The econometric techniques of Probit and Pooled Cross-sectional Time Series analysis were used to analyze the relationship between the odds ranking, post position, and final position of a horse. The length of the race does not significantly improve the fit of any of the models. The results of this analysis indicate that the post position significantly adds to the information reflected in the odds rankings. The significance of the post position bias tends to increase as the number of horses taking part in the race increases.

Keywords: Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789812819192_0050 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789812819192_0050 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789812819192_0050

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().