Risk aversion and risk loving in the small: a decomposition of the multivariate risk premium

Article Abstract:

United Kingdom data from 1963 to 1997 are used to illustrate a scalar multivariate risk premium decomposition that yields components that are easily interpreted when used in a consumer theory context. A more intuitive interpretation of the beneficial and detrimental impacts of price and income risk is shown.

Methods, Risk (Economics), Multivariate analysis, Consumption (Economics)

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The favourite-longshot bias, bookmaker margins and insider trading in a variety of betting markets

Article Abstract:

This paper presents research evidence that supports the Shin model. Specifically, bookmakers create a bias in their odds due to insider traders, and margins increase with the number of competitors.

Misc. Amusement, Recreation Services, Legal Gambling, Gambling Industries, Gambling, Book-making (Betting), Bookmaking (Betting)

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Multivariate Markov switching common factor models for the UK

Article Abstract:

The authors present an improved business cycle models for the United Kingdom.

Mathematical models, Business cycles, Markov processes

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