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Full-Text Articles in Medicine and Health Sciences
Behavioral Biases In Daily Fantasy Baseball: The Case Of The Hot Hand, Jeremy M. Losak, Andrew P. Weinbach, Rodney J. Paul
Behavioral Biases In Daily Fantasy Baseball: The Case Of The Hot Hand, Jeremy M. Losak, Andrew P. Weinbach, Rodney J. Paul
Sport Management - All Scholarship
Despite mixed evidence, sport participants and fans heavily believe in the existence of the hot hand. Prior literature examining NBA and NFL betting markets found betters were biased toward hot teams. Using a unique market and data set, this study identifies if the hot hand is prevalent in daily fantasy baseball contests, if there is a profitable hot hand selection strategy, and if consumers believe in its existence. Results show that while there is no evidence of a hot hand effect, and no evidence of a profitable hot hand strategy, consumers believe in and incorporate it in their lineup decisions.
Does Smart Money Believe In The Hot Hand? Evidence From Daily Fantasy Baseball, Jeremy M. Losak, Andrew P. Weinbach, Rodney J. Paul
Does Smart Money Believe In The Hot Hand? Evidence From Daily Fantasy Baseball, Jeremy M. Losak, Andrew P. Weinbach, Rodney J. Paul
Sport Management - All Scholarship
The behavior of informed traders, or 'smart money,' in sports betting markets has long been f interest to researchers. In this paper, we focus specifically on the behavior of smart money in Major league Baseball (MLB) daily fantasy sports (DFS) contests to determine if they avoid cognitive behavioral biases to increase their expected earnings. Specifically, we investigate whether smart money avoids the hot hand bias, where individuals tend to overestimate the likelihood of success for players on a hot streak. Using a dataset of MLB DFS contests, we find that winning lineups have lower usage rates for players exhibiting the …
On The Value Of A Premium College Football Player: Evaluating The Literature, Jeremy M. Losak, Benjamin J. Posmanick, Raymond Sauer
On The Value Of A Premium College Football Player: Evaluating The Literature, Jeremy M. Losak, Benjamin J. Posmanick, Raymond Sauer
Sport Management - All Scholarship
Over the past decade, the issue of player compensation in college sports has been the subject of several successful legal challenges. Athletes contend that the compensation they receive falls significantly short of the value they generate, attributing this gaps to unlawful NCAA restrictions. Numerous tools exist in the sport economic literature that estimate the value of colelge athletes, with an emphasized focus towards premium college football players. In addition to providing updated estimate of player marginal revenue product (MRP), we review past and contemporary methodologies for esitmating colllege player MRPs. We contend that, while presenting some evidence that restrictions on …
The Bradley-Terry Model In Binary Outcome Driven Rankings: An Apllication In Amateur Hockey, Connor Meissner, Jeremy M. Losak
The Bradley-Terry Model In Binary Outcome Driven Rankings: An Apllication In Amateur Hockey, Connor Meissner, Jeremy M. Losak
Sport Management - All Scholarship
Ranking systems serve critical roles in sport settings, most notably in determining playoff participants and seeding. Numerous ranking methodologies exist that incorporate many input measures and produce models that are highly predictive of game outcomes. However, there are circumstances—especially for amateur sport leagues—in which more complex inputs are either unavailable or not desirable, as they may lead to adverse performance incentives. Therefore, the goal of this paper is to highlight a ranking methodology that only considers binary game outcomes, i.e., wins and losses. Specifically, we consider the efficacy of the Bradley-Terry Model to rank sport teams for playoff consideration. We …