Regression to the mean and football wagers
Journal of Behavioral Decision MakingPublished 1 August 2002Open access
Marcus Lee, Gary Smith
Citations50
SJR quartileQ1
SJR score1.06
SNIP1.11
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Abstract
Abstract Football performances are an imperfect measure of abilities, and consequently exaggerate differences in abilities. The skills of those football teams that perform the best and the worst are not really that far from average; thus their future performances regress to the mean. Betting data indicate that gamblers do not fully account for this regression. Copyright © 2002 John Wiley & Sons, Ltd.
Keywords
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