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dc.contributor.authorBraun, Sebastianen_US
dc.contributor.authorKvasnicka, Michaelen_US
dc.date.accessioned2008-07-10en_US
dc.date.accessioned2009-07-23T15:03:49Z-
dc.date.available2009-07-23T15:03:49Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/25274-
dc.description.abstractThis paper studies how national sentiment in the form of either a perception or a loyalty bias of bettors may affect pricing patterns on national wagering markets for international sport events. We show theoretically that both biases can be profitably exploited by bookmakers by way of price adjustment (odds shading). The former bias induces bookmakers to shade odds against the domestic team, the latter to adjust them in a way that depends on the demand elasticity of bettors for their national favorite. Analyzing empirically a unique data set of betting quotas from online bookmakers in twelve European countries for qualification games to the UEFA Euro 2008, we find evidence for systematic biases in the pricing of own national teams in the odds for win offered across countries. Variations in the sign and magnitude of these deviations can be explained by differences across countries in the respective strengths of the perception and loyalty biases among domestic bettors.en_US
dc.language.isoengen_US
dc.publisherSFB 649, Economic Risk Berlinen_US
dc.relation.ispartofseriesSFB 649 discussion paper 2008,032en_US
dc.subject.jelL20en_US
dc.subject.jelL83en_US
dc.subject.ddc330en_US
dc.subject.keywordFootballen_US
dc.subject.keywordhome biasen_US
dc.subject.keywordinvestmenten_US
dc.subject.keywordpatriotismen_US
dc.subject.stwGlücksspielen_US
dc.subject.stwKonsumentenverhaltenen_US
dc.subject.stwFußballsporten_US
dc.subject.stwEthnopsychologieen_US
dc.subject.stwWahrnehmungen_US
dc.subject.stwTheorieen_US
dc.subject.stwEuropaen_US
dc.titleAgainst all odds?: national sentiment and wagering on European footballen_US
dc.typeWorking Paperen_US
dc.identifier.ppn571563600en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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