Publikationsserver
Experimental Evidence on Forecaster (anti-) Herding in Sports Markets
We experimentally analyzed whether (anti-)herding behavior of forecasters in sport-betting markets is influenced by the incentive structure of the market (winner-takes-all vs. equal payment of most accurate forecasts) and by personal traits of forecasters. We found evidence of anti-herding in foreca...
Gardado en:
| Publicado en: | MAGKS - Joint Discussion Paper Series in Economics (Band 38-2020) |
|---|---|
| Autoren: | , , |
| Formato: | Artigo |
| Idioma: | inglés |
| Publicado: |
Philipps-Universität Marburg
2020
|
| Schlagworte: | |
| Acceso en liña: | Texto completo PDF |
| Tags: |
Engadir etiqueta
Sen Etiquetas, Sexa o primeiro en etiquetar este rexistro!
|
| Zusammenfassung: | We experimentally analyzed whether (anti-)herding behavior of forecasters in sport-betting markets is influenced by the incentive structure of the market (winner-takes-all vs. equal payment of most accurate forecasts) and by personal traits of forecasters. We found evidence of anti-herding in forecasts of the German Bundesliga. Self-reported knowledge and, more surprisingly, winner-takes-all incentives reduced anti-herding. On average, forecasts were less accurate with stronger anti-herding. Winner-takes-all incentives and self-reported knowledge improved forecasts. |
|---|---|
| Descrición Física: | 29 Seiten |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0664 |