Teaching Note: Decision making using the racetrack betting markets
by Jack Rappaport, Stephen B. Richter
International Journal of Applied Decision Sciences (IJADS), Vol. 2, No. 3, 2009

Abstract: This paper describes an experiential learning case that uses the horse race betting markets as a vehicle to understand the process of decision making. In horse racing the spectator is also a decision maker. The experiment consists of using the class as a mini-simulcast centre whereby races are simulcast to the class from the internet and projected onto a big screen. The students also have access to individual terminals where they can access the real time wagering (betting) pools of a particular race and use Excel spreadsheets to monitor the results of their decisions.

Online publication date: Thu, 20-Aug-2009

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