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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...
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| Publicado en: | MAGKS - Joint Discussion Paper Series in Economics (Band 38-2020) |
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| Autores principales: | , , |
| Formato: | Artículo |
| Lenguaje: | inglés |
| Publicado: |
Philipps-Universität Marburg
2020
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| Materias: | |
| Acceso en línea: | Texto Completo PDF |
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| Sumario: | 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. |
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| Descripción Física: | 29 Seiten |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0664 |