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Power-law distribution in Japanese racetrack betting

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タイトル: Power-law distribution in Japanese racetrack betting
著者: Ichinomiya, Takashi 著作を一覧する
キーワード: econophysics
the efficient market
発行日: 2006年 8月 1日
出版者: Elsevier
誌名: Physica A Statistical Mechanics and its Applications
巻: 368
号: 1
開始ページ: 207
終了ページ: 213
出版社 DOI: 10.1016/j.physa.2005.12.027
抄録: Gambling is one of the basic economic activities that humans indulge in. An investigation of gambling activities provides deep insights into the economic actions of people and sheds lights on the study of econophysics. In this paper we present an analysis of the distribution of the final odds of the races organized by the Japan Racing Association. The distribution of the final odds P-o(x) indicates a clear power-law P-o(x) proportional to 1/x, where x represents the final odds. This power-law can be explained on the basis of the assumption that every bettor bets his money on the horse that appears to be the strongest in a race.
Rights: Copyright © 2006 Elsevier B.V. All rights reserved.
Relation (URI):
資料タイプ: article (author version)
出現コレクション:雑誌発表論文等 (Peer-reviewed Journal Articles, etc)

提供者: 一宮 尚志


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