An Explanation of Optimal Each-Way Bets based on Non-Expected Utility Theory
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More about this item
Keywords
MARKOWITZ UTILITY FUNCTION; CUMULATIVE PROSPECT THEORY; EXPO-VALUE UTILITY FUNCTION; PROBABILITY DISTORTION; GAMBLING;All these keywords.
JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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