John Peirson
Biographic Data
| ID | 5732375 |
|---|---|
| NAME | John Peirson |
| GIVEN NAMES | John |
| FAMILY NAME | Peirson |
| SIGNATURE | PEIRSON J |
| AFFILIATIONS | University of Kent |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 8 |
| AUTHOR COUNT | 8 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1986 |
| LATEST PUBLICATION YEAR | 2018 |
| H-INDEX | 2 |
Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory
Evidence of differential returns to bets placed with different probabilities of success has revealed a broadly systematic tendency for low/high‐probability events to be relatively overbet/underbet, a phenomenon known as the favourite–longshot bias. While most of the literature focuses on sports, especially horse racing, we report here the existence of the same phenomenon in online poker games. We find that misperception rather than risk‐love offe…
An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims
We develop a model to explain the differential incidence of the favourite–longshot bias in parallel sectors of the pari‐mutuel horserace betting market. Hypotheses are derived from the model and these are tested, using UK data, to explore the origins of the bias. Significant variations in the bias are discovered between market sectors on‐ and off‐racetrack. These results shed light on competing demand‐side explanations for the favourite–longshot …
Training and Establishment Survival
Training decisions are affected by beliefs about the returns to training, surrounding which firms face considerable uncertainty. We model the consequent association between training, profitability and establishment survival. We propose a plausible definition of optimism about training effectiveness, and show that more optimistic firms train more. We then present estimates of the relationship between training and the likelihood of medium‐term comm…
Road Accidents and Traffic Flows: An Econometric Investigation
This paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality, which is determined mainly by the difference between the marginal and average risks. The model is estimated using a new data‐set which combines hourly London traffic count data from automated vehicle recorders together with police records of road accidents. The accident‐flow relationship is…
The Microeconomic Analysis of the External Costs of Road Accidents
A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate the marginal external costs of road accidents. The results, under certain assumptions, are up to 50% less than those obtained using the methods of previous studies. However, the adjustmen…
Estimating the External Costs of UK Passenger Transport: The First Step towards an Efficient Transport Market
The external costs of transport are important in the analysis of transport policies and projects. Such analyses require the estimation of external costs on a consistent and appropriate basis. It is appropriate to measure these costs at the margin, and in this paper, for the first time, the marginal external costs for UK passenger transport are estimated. These costs were estimated by type and time of journey for different sectors of the UK passen…
The Importance of Being Unimportant: Marshalľs Third Rule of Derived Demand
J. R. Hicks's revision of A. Marshall's third rule states that as the price elasticity of demand for a pr oduct is greater/less than the elasticity of substitution, the elasti city of derived demand for a factor of production is positively/negat ively related to the share of the factor in total costs. A simple, cl ear, economic explanation of Hicks's revision is given. The very conf used debate on Marshall's third rule and Hicks's revision is ex-…
Decision and Control in Uncertain Resource Systems
Journal Article Decision and Control in Uncertain Resource Systems Get access Decision and Control in Uncertain Resource Systems. By MARC MANGEL. (Orlando and London: Academic Press, 1985. Pp. xiii + 255. £30.50 $39.50, hardback.) John Peirson John Peirson University of York Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 382, 1 June 1986, Pages 560–561, https://doi.org/10.2307/22331…
Road Accidents and Traffic Flows: An Econometric Investigation
This paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality, which is determined mainly by the difference between the marginal and average risks. The model is estimated using a new data‐set which combines hourly London traffic count data from automated vehicle recorders together with police records of road accidents. The accident‐flow relationship is…
The Microeconomic Analysis of the External Costs of Road Accidents
A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate the marginal external costs of road accidents. The results, under certain assumptions, are up to 50% less than those obtained using the methods of previous studies. However, the adjustmen…
An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims
We develop a model to explain the differential incidence of the favourite–longshot bias in parallel sectors of the pari‐mutuel horserace betting market. Hypotheses are derived from the model and these are tested, using UK data, to explore the origins of the bias. Significant variations in the bias are discovered between market sectors on‐ and off‐racetrack. These results shed light on competing demand‐side explanations for the favourite–longshot …
Training and Establishment Survival
Training decisions are affected by beliefs about the returns to training, surrounding which firms face considerable uncertainty. We model the consequent association between training, profitability and establishment survival. We propose a plausible definition of optimism about training effectiveness, and show that more optimistic firms train more. We then present estimates of the relationship between training and the likelihood of medium‐term comm…
Estimating the External Costs of UK Passenger Transport: The First Step towards an Efficient Transport Market
The external costs of transport are important in the analysis of transport policies and projects. Such analyses require the estimation of external costs on a consistent and appropriate basis. It is appropriate to measure these costs at the margin, and in this paper, for the first time, the marginal external costs for UK passenger transport are estimated. These costs were estimated by type and time of journey for different sectors of the UK passen…
Decision and Control in Uncertain Resource Systems
Journal Article Decision and Control in Uncertain Resource Systems Get access Decision and Control in Uncertain Resource Systems. By MARC MANGEL. (Orlando and London: Academic Press, 1985. Pp. xiii + 255. £30.50 $39.50, hardback.) John Peirson John Peirson University of York Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 382, 1 June 1986, Pages 560–561, https://doi.org/10.2307/22331…
The Importance of Being Unimportant: Marshalľs Third Rule of Derived Demand
J. R. Hicks's revision of A. Marshall's third rule states that as the price elasticity of demand for a pr oduct is greater/less than the elasticity of substitution, the elasti city of derived demand for a factor of production is positively/negat ively related to the share of the factor in total costs. A simple, cl ear, economic explanation of Hicks's revision is given. The very conf used debate on Marshall's third rule and Hicks's revision is ex-…
Estimating the External Costs of UK Passenger Transport: The First Step towards an Efficient Transport Market
The external costs of transport are important in the analysis of transport policies and projects. Such analyses require the estimation of external costs on a consistent and appropriate basis. It is appropriate to measure these costs at the margin, and in this paper, for the first time, the marginal external costs for UK passenger transport are estimated. These costs were estimated by type and time of journey for different sectors of the UK passen…
The Microeconomic Analysis of the External Costs of Road Accidents
A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate the marginal external costs of road accidents. The results, under certain assumptions, are up to 50% less than those obtained using the methods of previous studies. However, the adjustmen…
Road Accidents and Traffic Flows: An Econometric Investigation
This paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality, which is determined mainly by the difference between the marginal and average risks. The model is estimated using a new data‐set which combines hourly London traffic count data from automated vehicle recorders together with police records of road accidents. The accident‐flow relationship is…
Training and Establishment Survival
Training decisions are affected by beliefs about the returns to training, surrounding which firms face considerable uncertainty. We model the consequent association between training, profitability and establishment survival. We propose a plausible definition of optimism about training effectiveness, and show that more optimistic firms train more. We then present estimates of the relationship between training and the likelihood of medium‐term comm…
An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims
We develop a model to explain the differential incidence of the favourite–longshot bias in parallel sectors of the pari‐mutuel horserace betting market. Hypotheses are derived from the model and these are tested, using UK data, to explore the origins of the bias. Significant variations in the bias are discovered between market sectors on‐ and off‐racetrack. These results shed light on competing demand‐side explanations for the favourite–longshot …
Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory
Evidence of differential returns to bets placed with different probabilities of success has revealed a broadly systematic tendency for low/high‐probability events to be relatively overbet/underbet, a phenomenon known as the favourite–longshot bias. While most of the literature focuses on sports, especially horse racing, we report here the existence of the same phenomenon in online poker games. We find that misperception rather than risk‐love offe…
Economics (7 works) · Engineering (6 works) · Computer Science (4 works) · Econometrics (4 works) · Business (3 works) · Microeconomics (3 works) · Sociology (3 works) · Transport engineering (3 works) · Differential (mechanical device) (2 works) · Economic theories and models (2 works)