Show simple item record

dc.contributor.authorOwen, Guillermo
dc.dateMarch 1984 - September 1984
dc.date.accessioned2013-02-27T23:37:45Z
dc.date.available2013-02-27T23:37:45Z
dc.date.issued1984-10
dc.identifier.urihttp://hdl.handle.net/10945/29448
dc.description.abstractA bettor is faced with the problem of choosing optimal bets given his (subjective) probabilities of outcomes of an experiment and the payoff odds on these outcomes Conversely, a bookie (pari-mutuel system), faced by several bettors with different subjective probabilities, has the problem of choosing payoff odds so as to avoid the risk of loss. It is shown that under certain reasonably broad conditions on the several bettors' utilities and subjective probabilities, such an equilibrium set of payoff odds always exists. Some examples are worked out in detail.en_US
dc.description.sponsorshipChief of Naval Researchen_US
dc.description.urihttp://archive.org/details/parimutuelassyst00owen
dc.language.isoen_US
dc.publisherMonterey, California. Naval Postgraduate Schoolen_US
dc.rightsThis publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.en_US
dc.subject.lcshSPEECH PERCEPTION.en_US
dc.titlePari-mutuel as a system of aggregation of informationen_US
dc.typeTechnical Reporten_US
dc.contributor.corporateNaval Postgraduate School (U.S.)
dc.subject.authorGroup Decisionen_US
dc.subject.authorGroup Probabilityen_US
dc.subject.authorPari-Mutuelen_US
dc.identifier.npsreportNPS-53-85-0001


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record