Decisions : risk and reward

Book Cover......Page 1
Title......Page 6
Copyright......Page 7
Contents......Page 8
Illustrations......Page 11
Contributors......Page 14
Preface......Page 15
Acknowledgements......Page 22
Part I: Motivation for betting and risk taking......Page 26
1 Towards an explanation of betting as a leisure pursuit......Page 30
2 Costing excitement in leisure betting......Page 50
3 Successful betting strategies: Evidence from the UK off-course betting market......Page 67
Part II: The impact of complexity on decision-making behaviour......Page 84
4 The complex decision: Insights from naturalistic research......Page 88
5 An empirical study of the impact of complexity on participation in horse-race betting......Page 99
6 A probit model for estimating the effect of complexity on risk taking......Page 111
7 Risk strategy under task complexity: A multivariate analysis of behaviour in a naturalistic setting......Page 121
8 Decision-making under risk: Effect of complexity on performance......Page 142
Part III: Gender differences in decision-making behaviour......Page 152
9 Gender and DSS design: The research implications......Page 156
10 Male and female betting behaviour – new perspectives......Page 197
11 Gender-based differences in leisure behaviour: Performance, risk taking and confidence in off-course betting......Page 209
12 Decision-making, risk and gender: Are managers different?......Page 223
Part IV: The use of information by decision-makers and deviations from rational economic behaviour......Page 246
13 A violation of dominance and the consumption value of gambling......Page 254
14 Exploring decision-makers’ use of price information in a speculative market......Page 275
15 Gluck’s Second Law: An empirical investigation of horserace betting in early and late races......Page 294
16 Investigating the roots of the favourite–longshot bias: An analysis of decision-making by supply- and demand-side agents in parallel betting markets......Page 302
17 Market efficiency analysis requires a sensitivity to market characteristics: Some observations on a recent study of betting market efficiency......Page 325
18 Efficiency characteristics of a market for state-contingent claims......Page 330
19 Market ecology and decision behaviour in state-contingent claims markets......Page 336
20 Calibration of subjective probability judgements in a naturalistic setting......Page 358
Index......Page 384