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Information Efficiency in Financial and Betting Markets »

Authors: Leighton Vaughan Williams, Leighton Vaughan Williams (Editor), Vaughan Williams Leighton
ISBN-13: 9780521816038, ISBN-10: 0521816033
Format: Hardcover
Publisher: Cambridge University Press
Date Published: September 2005
Edition: (Non-applicable)

Author Biography: Leighton Vaughan Williams

Professor Leighton Vaughan Williams is Professor of Economics and Finance and Director of the Betting Research Unit at Nottingham Business School, Nottingham Trent University.

Book Synopsis

Analyses information efficiency in both financial and betting markets.

1	Information efficiency in financial markets	5
2	Weak form information efficiency in betting markets	84
3	Semi-strong and strong form information efficiency in betting markets	123
4	An assessment of quasi-arbitrage opportunities in two fixed-odds horse-race betting markets	159
5	The presence of favourites and biases in bookmakers' odds	172
6	Searching for semi-strong form inefficiency in the UK racetrack betting market	179
7	Models, markets, polls and pundits : a case study of information efficiency	193
8	Longshot bias : insights from the betting market on men's professional tennis	215
9	Biases and insider trading in exotic bets on thoroughbreds	231
10	On the improbability of information efficient parimutuel betting markets in the presence of heterogeneous beliefs	247
11	Modelling gambling demand in a laboratory casino : discovering the importance of individual-specific effects	262
12	Market efficiency of the 50-30-20-10 horse-racing spread betting market	277
13	Insider trading and bias in a market for state-contingent claims	287
14	Rationality and efficiency in lotto games	313
15	Efficiency of the odds on English professional football matches	330
16	Modeling distance preference in flat racing via average velocity	339
17	Testing for market efficiency in gambling markets : some observations and new statistical tests based on a bootstrap method	346
18	Information (in)efficiency in prediction markets	366

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Information Efficiency in Financial and Betting Markets »

Author Biography: Leighton Vaughan Williams

Book Synopsis

Table of Contents

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