Conditional asset pricing and stock market anomalies in europe

Professor Johnson was awarded a first class honours degree in Mathematics and Management Science from the University of Manchester Institute of Science and Technology. He then joined a Lloyd's insurance broker Stewart Wrightsonworking as a risk financing and assessment executive.

He completed professional examinations for the Chartered Insurance Institute and was awarded the Lloyds Insurance Brokers Association Prize for outstanding performance. Subsequently, he was appointed Stewart Wrightson Research Fellow exploring various aspects of risk assessment at the University of Nottingham, and then lecturer in Management Science at the University of Southampton; where he was awarded his PhD 'Decision-making in a risky environment: Insights from the UK horserace betting market.

He was elected Fellow of the Institute of Mathematics and its Applications and awarded the title Chartered Mathematician. In he was awarded a personal chair in 'Decision and Risk Analysis'.

Professor Johnson is currently Director of the Centre for Risk Research at the University which aims 'to encourage a deeper appreciation of the nature of risk, to develop approaches to its analysis, and to assist organisations in effectively managing risk'.

He is also on the Editorial Board of the Journal of Gambling, Business and Economics, Member of the International Institute of Forecasters, the European Association for the Study of Gambling, the European Association of Decision Making, the International Association for Research in Economic Psychology and the Society for the Study of Gambling. Professor Johnson is also visiting scholar at the University of Hamburg since He is also Vice-president of the Asia Pacific Association for Gambling Studies APAGS and permanent member of their Academic Committee.

Professor Johnson's research focuses on analysing behaviour in speculative markets, including betting, prediction and regular financial markets. He is particularly interested in the manner in which decisions are made in these markets and the extent to which available information is used by market participants.

He has led many sponsored research projects see Research tabis the author of two books and has contributed to a further 23 books, has published more than 70 articles in leading international journals and has delivered more than papers at international conferences. Professor Johnson has advised a number of organisations operating in speculative financial markets concerning trading strategies and risk analysis and has delivered many related executive development courses e.

Based on his research, Professor Johnson has recently developed a new financial derivative to aid risk management trading; international patents are pending.

His research has focussed on employing a variety of econometric and statistical models to explore risk taking and decision-making in financial, betting and prediction markets.

He has a particular interest in research examining:. Biased decision-making in a naturalistic environment: Implications for forecasts of competitive events. Searching for information inefficiency: Empirical evidence for the UK bookmaker horserace betting market. If you obtained a good MSc degree, or a first class honours degree in an appropriate subject, or equivalent professional qualification, and meet the language requirements of ILETS of 7.

EUR25, 'Managing efficiency in high risk environments: Analysis of export relationships in food businesses', sponsored by Andalusian Regional Government for Excellent Research Project Initiative Excellence Project PSEJ School of Management Pump Priming Fund.

Centre for Operational Research, Management Science and Information Systems. A two year project to design and embed an innovative capability concerning risk management for investment optimization via advanced volatility estimation.

A two year project sponsored by the Shenzen Government and Audaque Ltd to build a Big data supported financial services platform. A three year project sponsored by the Spanish National Research Council examining how to develop competitiveness and entrepreneurship via collaboration, risk management and governance. A three year CASE conversion award sponsored by EPSRC to work with a leading investmet management company to examine new approaches to develop risk factor model portfolios for retail investors.

A one year project sponsored by ESRC to develop TreeNet forecasting algorithms to predict the risk posed by informed traders. This project employed a range of advanced statistical modelling techniques to improve a company's trading data quality and to use the enhanced data to profile the trading behaviour of their clients. Project to develop the foundations of a new product for evaluating the performance of financial market traders.

A two-year project to help develop real-time risk management models to predict investors' financial decision behaviour. A 3-year project to explore innovative means of improving data quality and modelling complex, uncertain environments. The research will involve the development of innovative discrete choice models and real-time Big Data analysis which will enable WBX to transform its existing and future digital data into commercial knowledge and sources of future profit.

Director, Centre for Risk Research. Professor Johnson has a particular interest in developing effective, interactive teaching methods and he was awarded:. We use cookies to ensure that we give you the best experience on our website.

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All Courses Projects Staff. Vision and Mission Departments Our staff Our approach Achievements What our students think International links Contact us. Other University of Southampton sites International honour for Business School Professor. He has a particular interest in research examining: Effective combinations of machine learning and econometric models for event prediction. Inefficiency and decision-making biases in betting, prediction and financial markets.

The motivation for engaging in risk taking in real world settings. The ability of individuals to make decisions involving dynamic information.

Violations of rational economic behaviour in betting and financial markets. The impact of complexity on risk taking and decision making. Irrational behaviour in betting, prediction and financial markets.

Factors influencing the degree of accuracy of subjective probability judgements. Selection of current and previous topics explored by Professor Johnson's PhD students: The role of web information in the investor decision-making process.

Semi-strong efficiency of football and horserace betting markets. Information-based trading strategies in a competitive environment. The operation and efficiency of corporate prediction markets. Investigation of financial trading behaviour responses to volatile market price changes. Examination of psychological effects on trading behaviour in financial markets. The implications of information processing efficiency on decision-making. Similarities in investment strategies between agents in financial and betting markets.

Overconfidence amongst financial market traders. Evidence for use of the anchoring heuristic in real world financial market behaviour. A number of PhD scholarships for full-time entry are available. Classification and prediction of financial market trading behaviour KTP This project employed a range of advanced statistical modelling techniques to improve a company's trading data quality and to use the enhanced data to profile the trading behaviour of their clients.

Modelling and prediction of spread-trader and contract for difference trader risk SKTP Project to develop the foundations of a new product for evaluating the performance of financial market traders. Development of real-time risk management models of financial decision performance KTP A two-year project to help develop real-time risk management models to predict investors' financial decision behaviour. Modelling complex, uncertain environments A 3-year project to explore innovative means of improving data quality and modelling complex, uncertain environments.

Modelling the wisdom of the crowd The research will involve the development of innovative discrete choice models and real-time Big Data analysis which will enable WBX to transform its existing and future digital data into commercial knowledge and sources of future profit. Department of Decision Analytics and Risk Research member. Centre for Risk Director of Centre for Risk Research.

The impact of transaction costs on state-contingent claims mispricing. Bridging the divide in financial market forecasting: Expert Systems with Applications61 Informed trading, market efficiency and volatility. Economics Letters, Understanding the influence of risk factor quantity on perceptions of risk. Risk Analysis Probabilistic forecasting with discrete choice models: European Journal of Operational Research3 European Journal of Operational Research2 Toward an understanding of the origins of the favourite-longshot bias: Evidence from online poker markets, a real-money natural laboratory.

A study of risk perceptions of global population growth. Does transparency imply efficiency? The case of the European soccer betting market. The prospect of a perfect ending: Loss aversion and the round-number bias. Organizational Behavior and Human Decision ProcessesNovember Risk Analysis34 8 Investment risk preference among Greek SME proprietors: Journal of Small Business and Enterprise Development21 1 Toward an understanding of the influence of cultural background and domain experience on the effects of risk-pricing formats on risk perception.

Risk Analysis34 10 Using risk model judgements to better understand perceptions of synergistic risks.

Applied Asset and Risk Management: A Guide to Modern Portfolio Management - Marcus Schulmerich, Yves-Michel Leporcher, Ching-Hwa Eu - Google Livres

British Journal of Psychology4 Helping individuals to understand synergistic risks: Risk Analysis33 5 The impact of regulation on risk perception: Evidence from the Zimbabwean banking industry.

African Development Review25 3 A new methodology for generating and combining statistical forecasting models to enhance competitive event prediction. European Journal of Operational Research1 Discovering a profitable trading strategy in an apparently efficient market: Journal of Business Finance and Accounting39 Do people believe combined hazards can present synergistic risks? Risk Analysis32 5 Recreational versus professional bettors: Stock market capitalization and financial integration in the Asia Pacific region.

Applied Economics44 15 Subjective judgments of synergistic risks: British Journal of Psychology2 User adoption of mandatory enterprise technology.

Journal of Enterprise Information Management25 4 Drivers of corporate social responsibility attitudes: British Journal of Management22 2 Towards a methodology for measuring the true degree of efficiency in a speculative market. Journal of the Operational Research Society62 Alternative methods of predicting competitive events: International Journal of Forecasting26 3 Assessing bettors' ability to process dynamic information: Southern Economic Journal76 4 Educational validity of business gaming simulation: Simulation and Gaming41 5 Ordinal efficiency of betting markets: Applied Economics42 29 Revealing weak-form inefficiency in a market for state contingent claims: The importance of market ecology, modelling procedures and investment strategies.

Economica77 Risk management and its practical application: Journal of Risk Research13 5. Systematic and varying biases in parallel state contingent claims markets.

The explanatory power of trading volume and insider activity in a pari-mutuel betting market. European Journal of Finance17 3 Unconventional competition - drawing lessons from the military.

Prometheus28 4 An examination of the determinants of biased behaviour in a market for state contingent claims. Economica76 Complexity as a guide to understanding decision bias: A contribution to the favorite-longshot bias debate. The Journal of Behavioural Decision Making22 3 Identifying winners of competitive events: A SVM-based classification model for horserace prediction.

To what extent do investors in a financial market anchor their judgments? Evidence from the Hong Kong horserace betting market.

Journal of Behavioral Decision Making22 4 Journal of Prediction Markets2 1 Adapting least-square support vector regression models to forecast the outcome of horseraces. Journal of Prediction Markets1 3 Comparing the effectiveness of one- and two-step conditional logit models for predicting outcomes in a speculative market. Journal of Prediction Markets1 1 Pitfalls in the quest for South Sea rationality. The Economic History Review60 4 Searching for anchoring effects in a naturalistic environment: Journal of Gambling Business and Economics1 The influence of market ecology on market efficiency: Journal of Gambling Business and Economics1 3 Forex kenya today decision makers' use of price information in a speculative market.

Management Science52 6 Investigating the development of enterprise risk management in the overseas forex trading meaning industry: The Geneva Papers on Risk and Insurance: Issues and Practice Financial Make money on ebay infomercial can go mad: Evidence of irrational behaviour during the South Sea Bubble.

The Economic History Review58 2 Market ecology and decision behaviour in state-contingent claims markets. Calibration of subjective probability judgements in a naturalistic setting. Journal of Organizational Behaviour and Human Decision Processes85 2 Efficiency characteristics of a market for state contingent claims. Applied Ninja trader stock symbols33 13 Investigating the roots of favourite-longshot bias: The Journal canada employee stock options tax Behavioural Decision Making13 4 Market efficiency analysis requires a sensitivity to market characteristics: Some observations on a recent study of betting market efficiency.

Applied Economics Letters7 3 A violation of dominance and the consumption value of gambling. The Journal of Behavioural Decision Making12 1 Risk strategy under task complexity: The Journal of Behavioural Decision Making11 1 International Journal of Project and Business Risk Management1 A probit model for estimating the effect of complexity on risk taking.

Psychological Reports80 3 An empirical study of the impact of complexity on participation in horserace betting. Journal of Gambling Studies13 2 The analysis of risky decision-making: International Journal of Project and Business Risk Management1 3 Decision making under risk: Psychological Reports79 1 Gender-based differences in leisure behaviour: Leisure Studies15 1 Costing excitement in leisure betting.

Leisure Studies14 1 Gender and DSS design: Decision Support Systems trade forex berdasarkan news, 14 1 Decision-making, risk and gender: British Journal of Management5 2 Male and female betting behaviour: Journal of Gambling Studies10 2 Psychological Reports72 2 Toward an explanation of betting as a leisure pursuit.

Leisure Studies11 3 Routledge Studies in Business Organizations and Networks. Chartered Insurance Institute Tuition Service. Book Chapters McDonald, D. Evidence of biased decision making in betting markets. Edward Elgar Collection Series. Who can beat the odds? Routledge International Studies in Money and Banking.

Semi-strong form efficiency in the horserace betting market. To what extent can total enterprise simulation be validated? The International Simulation and Gaming Yearbook; Vol. Searching for semi-strong form inefficiency in the UK racetrack betting market.

Lessons from the south sea bubble. In The First Crash. A critical discussion of alternative methodological approaches. Risk management decisions— the role of heuristics and prospect theory. The application of utility analysis to risk management. The influence of gender on risk management decisions. Essays in Business, Economics, Philosophy and Science.

Institute for the Study of Gambling and Commercial Gaming. Bayesian inference — a note. Project planning and control. Subjective judgements in risk measurement. System reliability, maintenance and replacement, a risk perspective. Vulnerability analysis and hazard identification.

Determining the value of web-based IT in financial decision making. Paper presented at World Conference on Information Technology, Indonesia. Explaining the favourite-longshot bias with heterogeneous interacting agents. Paper presented at WEHIA, XXI Workshop on the Economic Science with Heterogeneous Interacting Agents, Spain. How valuable are market-based indicators in forecasting major event outcomes.

Paper presented at Asia Pacific Conference on Economics and Finance APEFSingapore. Insights concerning the effects of weather on risk-taking work home typing jobs bangalore a speculative financial market.

New insights into the prevalence of herding and its effects on financial market efficiency. The impact of transaction costs in sports betting markets.

Paper presented at Social Simulation Conference SSC, Italy. The influence of smart phone apps on trading behavior. Paper presented at The 24th Conference on the Theories and Practices of Securities and Financial Are binary options like gambling mt4 SFMTaiwan, Province of China. The role of mobile app use in the decision making behavior of spread traders. Paper presented at International Conference on Advanced Computing, Communication and Information Sciences ICACCIPhilippines.

Paper presented at 16th International Conference on Gambling and Risk Taking, United States. Paper presented at 22nd Annual Conference of the Multinational Finance Society, Greece. Detecting and exploiting herding behaviour in a speculative financial market. Is weak form efficiency an illusion? Evidence from a market for state contingent claims.

Paper presented at Adsense adsense adsenseprofit.biz make money tricks 23nd Conference on the Theories and Practices of Securities and Financial Markets: Big Data and Behavioral Research in Finance, Taiwan, Province of China. Loss aversion increases round number bias: Poster session presented at The 36th Annual Conference of the Society for Judgement and Wholesale dropship make money, United States.

Market efficiency implications of over-reaction to price signals: Paper presented at 18th Annual American Association of Behavioral and Social Sciences Conference, United States. The influence of weather on trader's decisions in a financial 247 digital binary options trading. The more the merrier?

Towards an understanding of public risk perceptions of global population growth.

Publications - Mathijs Cosemans

Paper presented at The 24th SRA-Europe Conference: Science, Policy and Society: Bridging the Gap Between Risk and Science, Netherlands. Towards an understanding of the impact of noise trading and herding on the efficiency of markets.

Why do financial traders tend to sell losing positions when the price reaches a round number? Centre for Risk Research Seminar, United Kingdom. A recipe for disaster? How risk factor quantity can influence risk judgments. Paper presented at The 23rd Society for risk Analysis - Europe SRA-E Conference, Turkey.

An empirical investigation of the Hedonic Hypothesis. Paper presented at The 6th IFABS Conference on Alternative Futures for Global Banking, Portugal. Differential seasonal weather effects on informed and uninformed traders. Paper presented at 22nd Conference on the Best manual forex trading systems and Practices of Securities and Financial Markets, Taiwan, Province of China.

Forecasting competitive events with the Kalman filter. Paper presented at 34th International Symposium on Forecasting, Netherlands. Forecasting retail spread-trader survival and the impact on the market population structure during the recent financial crisis.

Investors on the move: Forexyard signals presented at 14th International Conference of Management and Behavioural Sciences, Canada. Paper presented at 22nd Conference on the Theories and Practices of Securities and Financial Markets.

Expert Judgment Workshop, United Kingdom. Reactions to dynamically changing information in betting markets. Paper presented at CEAR International Workshop on the Economics of Gambling, South Africa. Successful betting through combined forecast modelling. Paper presented at 1st International Conference on Gaming, Leisure and Entertainment, Macao. The impact of weather on betting behaviour. The value of combining forecasts for profitable trading in the HK horserace betting market.

A new perspective on weekend effect: Empirical evidence from horserace betting market. Paper presented at The 2nd Asia Pacific Conference on Gambling and Commercial Gambling Research.

A unified framework and general concavity conditions for optimal sports betting. Paper presented at 26th European Conference on Operational Research, Italy.

Betting market efficiency leading stock market sectors of different structures: Combining forecasts to conditional asset pricing and stock market anomalies in europe the outcome of horse races. Forecasting the 80c investment options for senior citizens of favourite-longshot bias in alternative betting markets.

Paper presented at 33rd International Symposium on Forecasting, Korea, Republic of.

conditional asset pricing and stock market anomalies in europe

A generalized criterion for optimal allocation of wealth among risky assets. Insights into herding behavior in financial spread trading markets. Paper presented at 11th INFINITI Conference on International Finance, France. Insights into risk taking behavior in betting markets: Paper presented at International Workshop on the Economics of Gambling, United States. Profiting from noise traders in a horserace betting market.

Conditional asset pricing and stock market anomalies in Europe - Netspar

To warsaw stock exchange trading calendar 2013 extent does weather influence investors' susceptibility to the disposition effect? Paper presented at 22nd International Business Research Conference, Spain. Toward an understanding of price movements in betting markets: Towards an understanding of the forecasting ability of bettors when faced by dynamic information.

Paper presented at 2nd Asia Pacific Conference on Gambling and Commercial Gambling Research, Taiwan, Province of China. When the going gets tough: Paper presented at International Conference on the Global Financial Crisis: European Financial Markets and Institutions, United Kingdom.

Human judgments of synergistic risks: Paper presented at SRA Europe Annual Meeting, Switzerland. Improving predictions of competitive event outcomes by forecast combination. Paper presented at ISF: The 32nd Annual International Symposium on Forecasting, United States. Out-performing the market wholesale dropship make money survival analysis: Paper presented at 19th International Conference on Forecasting Financial Markets, France.

Paper presented at 10th INFINITI Conference on International Finance, Futures broker api canadian. Predictability of prices in a financial market: Resolving the question of why the favourite-longshot bias exists in some betting markets but not in others.

Paper presented at Society for Judgment and Decision Making Annual Conference, United States. Exploring the degree of predecisional bias displayed by participants in a speculative financial market. Paper presented at Business and Economics Society International Conference, Croatia. Favourite-longshot bias in competing betting markets.

Paper presented at International Conference on Gambling Studies, United Kingdom. Insights into decision-making behaviour from horserace betting markets: Macao Gaming Teaching and Research Centre Invited Seminar Series. Measuring perceptions of synergistic risks. Paper presented at 20th Society for Risk Analysis-Europe ConferenceGermany.

The effects of increased volatility and herding behavior on the efficiency of a speculative financial market. Paper presented at The 19th Conference on the Theories and Practices of Securities and Financial Markets, Using candlestick charts for day trading, Province of China.

An assessment of the degree to which how to sell at&t stock certificates financial market traders account for sporadically changing information.

Paper presented at 20th International Conference of the International Trade and Finance Association, United States. An exploration of the forecasting ability of traders in a financial market in the face of sporadically changing information. Paper presented at 30th Annual International Symposium on Forecasting, United States. Modelling competitive events to explore market inefficiency: Evidence from the UK horserace betting market. Paper presented at International Conference on Modelling and Simulation in Engineering, Economics and Management MS'Spain.

Modelling predecisional bias in a stock trading forex days financial market. Paper presented at EURO XXIV- 24th European Conference on Operational Research, Portugal. Modelling the manner in which sporadically changing information is accounted for by traders in a betting market.

Paper presented at International Conference on Modelling and Simulation in Engineering, Economics and Management MSSpain. Paper presented at 24th European Conference on Operational Research, Portugal. The development of profitable forecasts of outcomes using advisor binary options 60 second strategy indicator in a speculative financial market: The dynamic stock market capitalization integration in the Asia Pacific region.

Paper presented at European Financial Management Symposium. The importance of methodology for assessing the degree of efficiency in a global speculative financial market. When things just don't add up: Paper oldest asian stock market indices today at 19th Society for Risk Analysis SRA Europe Conference: Risk, Pricing american options with binomial trees and Accountability, United Kingdom.

A reinterpretation of the favourite-longshot bias: Paper presented at The 14th International Conference on Gambling and Risk Taking. An examination of the manner in which evolving information is accounted for by traders in a financial market. An exploration of profitable betting strategies based on knowledge of the proportion of informed and noise traders operating in a horserace betting market.

An exploration of the behaviour and performance of a set of informed traders operating in a parimutuel betting market. Paper presented at 14th International Conference on Gambling and Risk Taking. An exploration of the comparative performance of informed and noise traders in the uk horserace betting market.

Does size really matter across time? Financial integration dynamics and stock market capitalization in the Asia Pacific equity markets. Paper presented at European Financial Management Association, Italy. Forecasting market inefficiency in competitive events: Paper presented at The 29th Annual International Symposium on Forecasting, China.

An examination of the impact of biased decisions of noise traders on market efficiency during holiday periods in speculative markets. Paper presented at International Academy of Business and Economics Annual Conference, United States.

Paper presented at International Academy of Business and Economics IABEUnited States. An exploration of the origins of the favourite-longshot bias in horserace betting markets.

conditional asset pricing and stock market anomalies in europe

Paper presented at The 7th European Conference on Gambling Studies and Policy Issues. Betting markets as windows on decision making behaviour. Paper presented at Gambling Research Network Seminar Series. Exploring the efficient market hypothesis through time: The case of the total goals market. Exploring the efficient market hypothesis through time; evidence from the total goals football betting market.

Paper presented at Symposium of the Southern Economic Journal: Gambling, Prediction Markets and Public Policy. Forecasting market inefficiency via an analysis of the composition of traders in a market for state contingent claims.

Paper presented at 28th Annual International Symposium on Forecasting Conference, France. Forecasting the incidence of the favourite-longshot bias in a amarket for state contingent claims. Paper presented at The 28th Annual International Symposium on Forecasting Conference.

On-track versus off-track betting: Paper presented at 7th European Conference on Gambling Studies and Policy Issues. The reliability of subjective probability judgements in the face of evolving and sporadically changing information in a betting market: Paper presented at Symposium of Southern Economic Journal: Toward an understanding of variations in the nature of betting market populations via an exploration of the 'weekend effect' in a horserace betting markets.

A search for the origins of biased behaviour in a speculatative financial market: Paper presented at 22nd European Conference on Operational Research EURO XXII. Accuracy of subjective probability judgments in a speculative financial market. Paper presented at The Growth of Gambling and Prediction Markets: Economic and Financial Implications. Detecting anchoring effects in a dynamic decision-making environment. An empirical study of the Hong Kong horserace betting market.

Paper presented at SPUDM 21. Developing an understanding of the favourite-longshot bias. Paper presented at Seminars in Mathematics and Statistics. Evidence for different trading patterns of informed and uninformed bettors in weekday and weekend horserace betting markets. Paper presented at 17th Annual Conference of the National Association for Gambling Studies. Evidence of a weak form inefficiency in a market for state contingent claims.

Profitable trading on a day of the week effect. Paper presented at 15th Conference on the Theories and Practices of Securities and Financial Markets. Evidence of a weekend effect in a market for state contingent claims. Paper presented at 16th European Financial Managment Association Annual Conference. Economic and Financial Implications, United States. Exploring the behaviour of informed and noise traders in a speculative financial market. Paper presented at Seminars in Finance.

Exploring the homogeneity of weak form betting market efficiency across Europe. Exploring the weekend effect in a market for state contingent claims. Paper presented at 22nd European Conference on Operational Research EURO XXII.

A recipe for disaster in financial markets? Paper presented at Statistics Seminar, Australia. International Conference on Small and Medium Sized Enterprises: Management - Marketing - Economic Aspects. The impact of noise traders on prices during holiday periods in speculative markets.

Paper presented at The 5th National Taiwan University International Conference on Economics, Finance and Accounting NTU IEFA. Toward an understanding of racetrack betting populations via an analysis of the differential incidence of the favourite-longshot bias. Towards an understanding of racetrack betting populations via an analysis of the different incidence of the favourite-longshot bias.

Paper presented at National Association for Gambling Studies 17th Annual Conference. A new perspective on weak form efficiency: Empirical evidence from the UK bookmaker based betting market. Paper presented at 13th International Conference on Gambling and Risk Taking. A proposed methodology for testing anchoring effects in a naturalistc environment: Paper presented at 3rd International Conference on the Gaming Industry and Public Welfare.

An exploration of the degree to which horserace bettors effectively employ changing post-position bias data. Paper presented at National Association for Gambling Studies NAGS 16th Annual Conference. Anchoring effects in a real world decision making environment: Paper presented at 10th Biennial conference on Behavioral Decision Research in Management. Anchoring effects in horserace betting markets.

Paper presented at Fifth International Conference on Money, Investment and Risk. Paper presented at INFORMS International. Betting market reaction to dynamic post-position bias. Exploring the use of price information in a horserace betting market. Paper presented at The 16th Annual Conference of the National Association for Gambling Studies.

Informed agent behaviour and the explanatory power of trading volume in a market for state contingent claims. Behavioural Economics and Economic Psychology. Managing changing information in an uncertain environment: The ability of horserace bettors to account for sporadically changing information.

Paper presented at 5th International Conference on Money, Investment and Risk. Modelling classification analysis for competitive events with applications to sports betting. Paper presented at VEAM IFIP Working Group 7. Psychology of risk taking and decision making. Paper presented at Cushmand and Wakefield Global Management Forum.

Revealing weak form inefficiency in a market for state contingent claims. Searching for market efficiency with survival analysis. Paper presented at Department of accounting and finance. The impact of anchoring effects on the probability judgments in horserace betting markets.

The impact of evolving and sporadically changing information on subjective probability judgements in a financial market. The impact of evolving and sporadically changing information on subjective probability judgements in a market for state contingent claims. Paper presented at Statistics and Gambling Meeting, The Royal Statistical Society.

The overconfident behaviour of investors in the Taiwan stock market. Changing the rules of the game: Paper presented at 6th European Conference on Gambling Studies and Policy Issues. Searching for information inefficiency in horserace betting markets: Paper presented at 4th International Equine Industry Program Academic Conference. Paper presented at 6th European Conference on Gambling Studies and Policy Issues, Sweden. The impact of publicly available information on betting markets: Implications for bettors, betting operators and regulators.

The role of informed investors in generating trading volume in a market for state contingent claims. Toward an understanding of investors' reactions to changes in information affecting market outcomes: A comparative analysis of the degree of semi-strong form efficiency in racetrack betting markets.

Paper presented at The 4th International Conference, Money, Investment and Risk. Profitable exploitation of inside information in a speculative market. Paper presented at EURO XX, EURO Profitable trading from privileged information. Paper presented at Managing Risks for Success. Paper presented at Topics in Risk Management. Searching for semi-strong form information inefficiency in horserace betting markets: Paper presented at EURO XX: Implications for internet betting.

Paper presented at The 20th European Conference on Operational Research. A comparative analysis of the degree of semi-strong efficiency in racetrack betting markets. Paper presented at 4th International Conference on Money, Investment and Risk. Discerning and employing privately held information in a market for state contingent claims. Paper presented at 12th International Conference on Gambling and Risk Taking. Enhancing a price-based decision model in a market for state-contingent claims.

Paper presented at Euro INFORMS Joint International Meeting. The efficient market hypotheses related to horserace betting markets: Paper presented at Centre for Risk Research. The role of trading volume in explaining horserace outcomes: The value of trading volume information in a market for state-contingent claims. The value of volume: Traders' decisions in financial markets: Weak from inefficiency in the UK horserace betting market: Its impact on market efficiency.

Paper presented at 5th European Conference on Gambling Studies and Policy Issues. Implications for market efficiency of post-position bias. The naturalistic study of decision heuristics. Paper presented at The International Federation of Operational Research Societies IFORS. The provision and use of information to create fair betting markets: The role of information in market anomalies.

Apportioning responsibility for betting market inefficiency between bookmakers and bettors. Paper presented at 11th International Conference on Gambling and Risk Taking.

Betting strategies using artificial neural networks. An exploration of the consumption value of gambling. Paper presented at First International Equine Industry Program Academic Conference. Efficiency in a market for state contingent claims. Assessing the value of risk taking: A model for analysing staking behaviour.

Paper presented at Third European Conference on Gambling Studies and Policy Issues. Methodology and interpretation in gambling research: Good and bad practice. Complexity and betting behaviour: Paper presented at Second European Conference on Gambling Studies and Policy Issues. Comparing market power in parimutual and bookmaker based horserace betting markets: Paper presented at First European Conference on Gambling Studies and Policy Issues.

Decision making and gender: Proceedings of the Fifth Meeting of EURO Working Group on DSS. Market power in bookmaker based betting markets. Paper presented at Conference of the Society for the Study of Gambling, United Kingdom. Risk propensity and decision making in betting markets. The economic impact of complexity: Paper presented at First European Conference on Gambling Studies and Policy Issues, United Kingdom.

A comparison of the betting behaviour of males and females. Paper presented at Conference of the Society for the Study of Gambling. Complexity and decision making: Paper presented at The Ninth International Conference on Risk Taking and Gambling.

Performance, risky choice and confidence: Risk taking and gender. Paper presented at City University Business School Seminar Series, United Kingdom. The impact of complexity on decision performance and decision patterns. The popularity of complexity. Paper presented at Eighth International Conference on Risk Taking and Gambling, United Kingdom. An exploration of influences on transaction costs in betting markets. Working Papers Marshall, A.

Why risk cultures need prudence. A Centre for Risk Research Discussion Document. Factors influencing the risk appetite of SMEs: Centre for Risk Research: Working Paper Series; No. Discussion Papers in Centre for Risk Research: A new method for predicting the outcome of speculative events. Discussion Papers in Centre for Risk Research; No. University of Southampton, Department of Management. Home asset bias and investment performance in a market for state contingent claims. University of Strathclyde Seminar Series.

An assessment of the quality of subjective probability judgements in a naturalistic setting. Discussion Papers in Accounting and Management Science; No. An exploration of inefficiency in a market for state contingent claims. Comparative analysis of market efficiency in parallel betting markets. Accounting and Management Science Papers; No. Toward an explanation of the favourtie-Longshot bias: Decision-making anomalies in financial markets: School of Management and Finance Discussion Paper.

Market power in British parimutual and bookmaker based horseracing betting markets: School of Management and Finance Discussion Paper; No. Discussion Papers in Economics and Econometrics; No.

Decision-making in a risky environment: Risk propensity in complex decision environments: School of Management and Finance Discussion Papers; No. Changing wealth and risk preferences: The effect of arousal and social pressure on risky choice behaviour. Betting patterns in early and late races: University of Nottingham, Management and Finance Discussion Papers; No.

Decisions, gender and decision support systems: Gender and decision making: Motivation for risk taking in a social setting. SMF Discussion Paper Series. Management and Finance Discussion Papers; No. Professor Johnson has a particular interest in developing effective, interactive teaching methods and he was awarded: The National Partnership Trust Award for 'innovation and development in higher education within the UK' The 'Dean's Teaching and Learning' prize at City University Business School and on several occasions was voted, 'Lecturer of the Semester' by University of Southampton students, The 'Outstanding Lecturer in the Faculty' by the Southampton University Students Union.

His teaching focuses on decision and risk analysis. Professor Johnnie Johnson Southampton Business School, University of Southampton, Highfield, Southampton SO17 1BJ, UK Room Number: Connect with us Facebook Twitter Instagram LinkedIn YouTube Download University of Southampton prospectus Download a PDF of our prospectus or order a printed copy to be delivered to your door.

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