A Test for Bias of Inherent Characteristics in Betting Markets

被引：10

作者：

Dare, William H. ^{[2
]}

Dennis, Steven A. ^{[1
]}

机构：

[1] Univ N Dakota, Grand Forks, ND 58202 USA

[2] Oklahoma State Univ, Dept Finance, Stillwater, OK 74078 USA

来源：

JOURNAL OF SPORTS ECONOMICS | 2011年 / 12卷 / 06期

关键词：

betting; market; NFL; efficiency; bias; home; underdog; EFFICIENCY;

D O I：

10.1177/1527002510395864

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The authors develop a model to investigate potential biases of inherent characteristics in betting markets. The test requires only that there be both a sides ("spread") market and a totals ("over/under") market for the game. The authors utilize the model to test for the well-documented "home-underdog" bias in the National Football League (NFL). They show that the bias specifically favors the offense (or defense) of home underdogs (away-favorites), with no bias against the offense (defense) of away favorites (home-underdogs).

引用

页码：660 / 665

页数：6

共 8 条

[1] A test of the widespread-point-shaving theory [J].