Female Jockeys - What are the Odds?

17 Pages Posted: 22 Feb 2022

See all articles by Vanessa Cashmore

Vanessa Cashmore

University of Liverpool

Neil Coster

University of Liverpool

Ian McHale

University of Liverpool

David Forrest

University of Liverpool - Management School (ULMS)

Babatunde Buraimo

University of Liverpool - Management School (ULMS)

Abstract

Under-representation of women persists in many industries and represents an important area of concern for society. We use a revealed preference approach to test for bias against females in an underexplored environment. Whilst much use has been made of the financial industry to examine how market prices reveal implicit views on the relative productivity of men and women, our setting offers advantages through both volume of data and unambiguity of outcome. Over a 20-year period, the effect of jockey gender on fixed price betting odds was examined in National Hunt racing. Employing censored regression to account for non-finishers we find female jockeys to be underestimated by the UK betting market. Results indicate an increasing trend for underestimation in recent years, despite growing representation and rising performance levels of female jockeys. We conclude that mistake-based discrimination and confirmation bias may be impacting efficiency in the betting market. The market might recognise some improvement in female performance but may be failing to adapt at the speed with which female jockeys are professionalising.

Keywords: gender bias, Discrimination, Horse racing, Heckman, Female Jockey

Suggested Citation

Cashmore, Vanessa and Coster, Neil and McHale, Ian and Forrest, David and Buraimo, Babatunde, Female Jockeys - What are the Odds?. Available at SSRN: https://ssrn.com/abstract=4040586 or http://dx.doi.org/10.2139/ssrn.4040586

Vanessa Cashmore

University of Liverpool ( email )

Chatham Street
Brownlow Hill
Liverpool, L69 7ZA
United Kingdom

Neil Coster

University of Liverpool ( email )

Chatham Street
Brownlow Hill
Liverpool, L69 7ZA
United Kingdom

Ian McHale

University of Liverpool ( email )

Chatham Street
Brownlow Hill
Liverpool, L69 7ZA
United Kingdom

David Forrest

University of Liverpool - Management School (ULMS) ( email )

Chatham Street
Liverpool, L69 7ZH
United Kingdom

Babatunde Buraimo (Contact Author)

University of Liverpool - Management School (ULMS) ( email )

Chatham Street
Liverpool, L69 7ZH
United Kingdom

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