Archive for June 5th, 2015

American Pharoah: Odds-on favorite, but scientific long-shot …

June 5, 2015

In prior posts we reported how history is against American Pharoah  — How often do Derby & Preakness winners nail the Triple Crown? — and how bettors like long-shots — Biases: The favorite-long shot bias … ».

Today we’ll wrap up Triple Crown Week, excerpting an interesting piece in Wired titled “Science says that American Pharoah won’t win the triple crown”

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Here’s the essence of the scientific argument …

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Biases: The favorite-long shot bias …

June 5, 2015

In gambling and economics, there’s an observed phenomenon favorite-long shot bias.

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Here’s how it works …

 

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