Year: 2018
Type: article
Study design: Observational Study
Abstract: This paper examines how betting experience is associated with horse race bettors’ sequential risk taking. We use an individual-level data set of 5,217 individual bettors with 167,816 betting-related transactions. Our analyses suggest that inexperienced bettors take on more risk than experienced bettors do after they experience gains. We also find some indication that experienced bettors become more risk averse than inexperienced ones after incurring losses.
Source: Economics and Business Letters
Authors: Jani Saastamoinen, Niko Suhonen
Institution: University of Eastern Finland
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2902038484