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Market Efficiency in Racetrack Betting: Further Evidence and a Correction

✍ Scribed by Peter Asch, Burton G. Malkiel and Richard E. Quandt


Book ID
124683432
Publisher
University of Chicago Press
Year
1986
Tongue
English
Weight
333 KB
Volume
59
Category
Article
ISSN
0021-9398

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## Abstract A naturalistic study was employed to explore a new form of β€œbasic anchoring.” In particular, we examined the degree to which decision makers in a financial market, the horserace betting market, anchored their probability judgments excessively on a factor present in the environment at th