Decisions : risk and reward / edited by Johnnie Johnson and Alistair Bruce.

Includes bibliographical references and index.

Motivation for betting and risk taking -- Toward an explanation of betting as a leisure pursuit -- Costing excitement in leisure betting -- Successful betting strategies : evidence from the UK off-course betting market -- The impact of complexity on decision-making behaviour -- The complex decision : insights from naturalistic research -- An empirical study of the impact of complexity on participation in horserace betting -- A probit model for estimating the effect of complexity on risk taking -- Risk strategy under task complexity : a multivariate analysis of behaviour in a naturalistic setting -- Decision making under risk : effect of complexity on performance -- Gender differences in decision-making behaviour -- Gender and DSS design : the research implications -- Male and female betting behaviour--new perspectives -- Gender-based differences in leisure behaviour : performance, risk-taking and confidence in off-course betting -- Decision-making, risk and gender : are managers different? -- The use of information by decision makers and deviations from rational economic behaviour -- A violation of dominance and the consumption value of gambling -- Exploring decision makers' use of price information in a speculative market -- Gluck's second law : an empirical investigation of horserace betting in early and late races -- Investigating the roots of the favourite-longshot bias : an analysis of decision-making by supply and demand-side agents in parallel betting markets -- Market efficiency analysis requires a sensitivity to market characteristics : some observations on a recent study of betting market efficiency -- Efficiency characteristics of a market for state contingent claims -- Market ecology and decision behaviour in state-contingent claims markets -- Calibration of subjective probability judgements in a naturalistic setting.

The book comprises a set of chapters, derived from previously published papers, which explore decision-making behaviour in a risky environment. In particular, the work presented here addresses why individuals undertake risky activities such as betting, the impacts of complexity on both risk taking and performance, to what extent gender impacts decision-making behaviour, what individuals make of information in their decisions and to what extent these decisions deviate from rational economic behaviour.

osc 13/05/13

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