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POST POSITION BIAS: An Econometric Analysis of the 1987 Season at Exhibition Park

In: Efficiency Of Racetrack Betting Markets

Author

Listed:
  • Sandra Betton

    (Department of Finance, University of British Columbia, Canada)

Abstract

This paper investigates the existence of a post position bias during the 1987 racing season at Exhibition Park. The econometric techniques of Probit and Pooled Cross-sectional Time Series analysis were used to analyze the relationship between the odds ranking, post position, and final position of a horse. The length of the race does not significantly improve the fit of any of the models. The results of this analysis indicate that the post position significantly adds to the information reflected in the odds rankings. The significance of the post position bias tends to increase as the number of horses taking part in the race increases.

Suggested Citation

  • Sandra Betton, 2008. "POST POSITION BIAS: An Econometric Analysis of the 1987 Season at Exhibition Park," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 50, pages 511-526, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812819192_0050
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