Niko Suhonen

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Disordered Internet gambling is a psychological disorder that represents an important public health issue due to the increase in highly available and conveniently accessible Internet gambling sites. Chasing losses is one of the few observable markers of at-risk and problem gambling that may be used to detect early signs of disordered Internet gambling. This(More)
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This paper analyzes the efficiency of betting markets in harness horse racing during the transition from on-track betting to Internet gambling. In order to test the market efficiency hypotheses, an alternative testing approach to other grouping methods is introduced. The betting market efficiency is tested by using a database accumulated from the Finnish(More)
The paper analyzes the efficiency of the betting markets in Finnish harness horse racing. We first present the basic properties of the betting markets. We focus on the organization structures, the market efficiency, and the well-known inefficiencies. Next we review different methods to test the market efficiency. An alternative method proposed based on(More)
  • Joensuun Yliopisto, Taloustieteet, Niko Suhonen, Mikael Linden
  • 2008
The paper discusses decision making under risk and uncertainty in the framework of gambling. Especially, the well-known anomaly of favourite-longshot bias is considered. We argue that gambling behaviour can be seen just as a consumption type activity. Thus, gambling behaviour is more than just a risky choice, and it is reasonable to assume that the price of(More)
The paper discusses some recent developments in analysis of decision making under risk and uncertainty. First we present the expected utility theory and the basic assumptions of rationality. Second we discuss the critique that has been directed towards the expected utility theory. Next we present the alternative theories: regret theory, prospect theory and(More)
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