Skip to content
Open global navigation

Cambridge University Press

AcademicLocation selectorSearch toggleMain navigation toggle
Cart
Register Sign in Wishlist
Information Efficiency in Financial and Betting Markets

Information Efficiency in Financial and Betting Markets

$146.00

Leighton Vaughan Williams, Michael A. Smith, David Paton, William Collier, John Peirson, Ming-Chien Sung, Johnnie E. V. Johnson, Alistair C. Bruce, David Forrest, Ian McHale, Les Coleman, Martin McGrath, William Hurley, Lawrence McDonough, W. David Walls, Patrick J. Harvey, Paul M. Twomey, Adi Schnytzer, Yuval Shilony, Victor A. Matheson, Kent R. Grote, Robert Simmons, David Edelman, Ivan A. Paya, David A. Peel, David Law, Erik Snowberg, Justin Wolfers, Eric Zitzewitz
View all contributors
  • Date Published: November 2005
  • availability: Available
  • format: Hardback
  • isbn: 9780521816038

$146.00
Hardback

Add to cart Add to wishlist

Other available formats:
Paperback, eBook


Looking for an examination copy?

If you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • This survey of the theory and practice of gambling uses examples from an international range of sports betting markets. Gambling markets offer economists a fascinating case study of how information efficiency operates in a market. Insights gained from gambling interest many: governments (who tax gamblers), financial market analysts (who gamble on the financial markets), and, lastly, mathematicians (who analyze the puzzle of gambling).

    • A most extensive survey of the literature on information efficiency
    • Focuses on betting markets as well as financial markets
    • Wide disciplinary appeal - finance, economics, public policy and mathematics
    Read more

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: November 2005
    • format: Hardback
    • isbn: 9780521816038
    • length: 412 pages
    • dimensions: 229 x 152 x 27 mm
    • weight: 0.77kg
    • contains: 33 tables
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    List of contributors
    Introduction
    Part I: The Concept of Information Efficiency:
    1. Information efficiency in financial markets Leighton Vaughan Williams
    2. Weak form information efficiency in betting markets Leighton Vaughan Williams
    3. Semi-strong and strong form information efficiency in betting markets Leighton Vaughan Williams
    Part II. Selected Readings:
    4. An assessment of quasi-arbitrage opportunities in two fixed-odds horse-race betting markets Michael A. Smith, David Paton and Leighton Vaughan Williams
    5. The presence of favourites and biases in bookmakers' odds William Collier and John Peirson
    6. Searching for semi-strong form inefficiency in the UK racetrack betting market Ming-Chien Sung, Johnnie E. V. Johnson and Alistair C. Bruce
    7. Models, markets, polls and pundits: a case study of information efficiency Leighton Vaughan Williams
    8. Longshot bias: insights from the betting market on men's professional tennis David Forrest and Ian McHale
    9. Biases and insider trading in exotic bets on thoroughbreds Les Coleman and Martin McGrath
    10. On the improbability of information efficient parimutuel betting markets in the presence of heterogeneous beliefs William Hurley and Lawrence McDonough
    11. Modelling gambling demand in a laboratory casino: discovering the importance of individual-specific effects W. David Walls and Patrick J. Harvey
    12. Market efficiency of the 50–30–20–10 horse-racing spread betting market Paul M. Twomey
    13. Insider trading and bias in a market for state-contingent claims Adi Schnytzer and Yuval Shilony
    14. Rationality and efficiency in lotto games Victor A. Matheson and Kent R. Grote
    15. Efficiency of the odds on English professional football matches David Forrest and Robert Simmons
    16. Modelling distance preference in flat racing via average velocity David Edelman
    17. Testing for market efficiency in gambling markets: some observations and new statistical tests based on a bootstrap method Ivan A. Paya, David A. Peel, David Law and John Peirson
    18. Information (in)efficiency in prediction markets Erik Snowberg, Justin Wolfers and Eric Zitzewitz
    Index.

  • Editor

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

    Contributors

    Leighton Vaughan Williams, Michael A. Smith, David Paton, William Collier, John Peirson, Ming-Chien Sung, Johnnie E. V. Johnson, Alistair C. Bruce, David Forrest, Ian McHale, Les Coleman, Martin McGrath, William Hurley, Lawrence McDonough, W. David Walls, Patrick J. Harvey, Paul M. Twomey, Adi Schnytzer, Yuval Shilony, Victor A. Matheson, Kent R. Grote, Robert Simmons, David Edelman, Ivan A. Paya, David A. Peel, David Law, Erik Snowberg, Justin Wolfers, Eric Zitzewitz

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

You are now leaving the Cambridge University Press website, your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Find content that relates to you

© Cambridge University Press 2014

Back to top

Are you sure you want to delete your account?

This cannot be undone.

Cancel Delete

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×