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Original Articles

Estimates of the degree of insider trading in two disparate betting markets

Pages 191-193 | Published online: 07 Oct 2010
 

Abstract

Conditional on the Shin (Economic Journal, 103, 1993) model, the incidence of insider trading is estimated in two different British betting markets: those for horse-racing and the 1997 general election. Formal testing confirms that insider trading is significantly lower in handicap than non-handicap races.

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