Estimating Preferences under Risk: The Case of Racetrack Bettors
By Bruno Jullien, Bernard Salanié. Journal of Political Economy, 2000
296 citations recorded by the source corpus.
Subfields: Economics and Econometrics, General Decision Sciences
View Paper: https://www.semanticscholar.org/paper/7a5ce12045a03da5bdfd8b111725886d41621084
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Citations in the corpus
- The Role of Behavioural Economics in Energy and Climate Policy (2011, unknown): “Julien and Salanie (2000) find that on horseraces, there is bias towards betting on “longshots”, implying that gamblers like to gamble, but they are disproportionally afraid of small chances of losing when they bet on heavy “favourites”.”
- Market-Wide Impact of the Disposition Effect: Evidence from Ipo Trading Volume (2004, background): “…and Thaler (1995) for an application of prospect theory in connection with short evaluation horizons in explaining the equity premium puzzle, Jullien and Salanié (2000) for the results of estimating cumulative prospect theory value functions on a large set of British horse racing data, and…”
- Household Portfolio Underdiversification and Probability Weighting: Evidence from the Field (2018, unknown): “Prior studies recover preferences from choices in betting markets (Jullien and Salanié, 2000; Snowberg and Wolfers, 2010; Chiappori, Salanié, Salanié, and Gandhi, 2019) and insurance markets (Sydnor, 2010; Barseghyan, Molinari, O’Donoghue, and Teitelbaum, 2013).”
- Consumption Commitments and Risk Preferences (2007, unknown): “[Gambling] The model may help explain why racetrack bettors prefer skewed bets that have long odds and large payoffs [Golec and Tamarkin 1998; Jullien and Salanie 2000], and why individuals are more likely to participate in some lotteries that have very large payoffs [Clotfelter and Cook 1987].”
- Why are gambling markets organised so differently from financial markets (2004, unknown): “…Americans have a wager on 7 This finding is not to be confused with the bias towards longshots that has been observed in parimutuel horse-race betting (Ali, 1977; Golec and Tamarkin, 1998; Jullien and Salanie, 2000; Shin, 1991, 1992, 1993; Thaler and Ziemba, 1988; Vaughan Williams and Paton, 1997).”
- Happiness Adaptation to Income and to Status in an Individual Panel (2010, unknown): “The main purpose of these regressions is to provide a broad description of the patterns in the data.”