Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities
| dc.contributor.author | Abinzano Guillén, María Isabel | |
| dc.contributor.author | Muga Caperos, Luis Fernando | |
| dc.contributor.author | Santamaría Aquilué, Rafael | |
| dc.contributor.department | Gestión de Empresas | es_ES |
| dc.contributor.department | Enpresen Kudeaketa | eu |
| dc.date.accessioned | 2015-11-02T09:59:38Z | |
| dc.date.issued | 2014 | |
| dc.description.abstract | This paper presents evidence of the impact of overconfidence bias in asset prices drawn from a study based on data from tennis betting exchanges. A series of betting strategies in tournaments with a clear-cut favourite are shown to yield significant economic returns. The impact of overconfidence bias on betting odds increases with trading volume, media coverage, and levels of disagreement between overconfident and Cumulative Prospect Theory bettors. Just as in traditional financial markets, arbitrage limits are shown to be a necessary condition for the impact of behavioural biases on prices. | en |
| dc.description.sponsorship | This paper has received financial support from the Spanish Ministry of Economy and Competitiveness (ECO2012-35946-C02-01) | en |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.doi | 10.1177/1527002514560575 | |
| dc.identifier.issn | 1527-0025 (Print) | |
| dc.identifier.issn | 1552-7794 (Electronic) | |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/18743 | |
| dc.language.iso | eng | en |
| dc.publisher | SAGE | en |
| dc.relation.ispartof | Journal of Sports Economics (2014) | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/MINECO//ECO2012-35946-C02-01/ES/ | |
| dc.relation.publisherversion | https://dx.doi.org/10.1177/1527002514560575 | |
| dc.rights | © Los autores | es_ES |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.subject | Overconfidence | en |
| dc.subject | Betting exchanges | en |
| dc.subject | Anomalies | en |
| dc.subject | Behavioural finance | en |
| dc.title | Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities | en |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.version | info:eu-repo/semantics/acceptedVersion | |
| dspace.entity.type | Publication | |
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