Power-law distribution in Japanese racetrack betting

Ichinomiya, Takashi

Physica A Statistical Mechanics and its Applications, 2006, 368(1), 207-213

Permalink : https://hdl.handle.net/2115/14475

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アクセス権	open access
URI	https://hdl.handle.net/2115/14475
タイトル	Power-law distribution in Japanese racetrack betting
著者	著者名 Ichinomiya, Takashi
言語	英語
キーワード	econophysics
	the efficient market
	scaling
発行日	2006-08-01
出版者	Elsevier
収録物名	Physica A Statistical Mechanics and its Applications
巻(号)	368(1)
ページ	207-213
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.
資源タイプ	学術雑誌論文
出版タイプ	Accepted Manuscript
権利情報	Copyright © 2006 Elsevier B.V. All rights reserved.
PISSN	0378-4371
関連情報	URI http://www.sciencedirect.com/science/journal/03784371
関連情報 (isVersionOf)	出版社版DOI https://doi.org/10.1016/j.physa.2005.12.027