Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-292.
: Rather than "boxing" horses randomly, Scott calculated the true odds for trifectas and combined the top three or four "best-value" chances accordingly. Practical Punting Psychological Resilience winning more don scott pdf
It read differently than Scott’s published work. It was colder, more mathematical. It dismissed the romance of the jockey or the "feel" of the stables. It focused entirely on the intersection of Time and Weight. It introduced a variable Scott had never publicly discussed: The Dynamic Rating Decay. Kahneman, D