Accession Number:

AD0606923

Title:

CONSENSUS OF SUBJECTIVE PROBABILITIES: THE PARI-MUTUEL METHOD,

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CALIF

Personal Author(s):

Report Date:

1958-05-22

Pagination or Media Count:

8.0

Abstract:

Under the pari-mutuel system of betting on horse races the final tracks odds are in some sense a consensus of the subjective odds of the individual bettors weighted by the amounts of their bets. The properties which this consensus must possess and prove that there always exists a unique set of odds having the required properties are formulated. Author

Subject Categories:

Distribution Statement:

APPROVED FOR PUBLIC RELEASE