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Applied Economics Letters Volume 12, 2005 - Issue 3
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Original Articles

Determinants of betting market efficiency

Marshall Gramm * Department of Economics and Business, Rhodes College, 2000 North Parkway, Memphis, TN 38112-1690, USA
&
Douglas H. Owens Welch Consulting, 111 University Drive East, Suite 205, College Station, TX 77840, USA
Pages 181-185 | Published online: 20 Aug 2006

References

References

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  • Asch , P , Malkiel , BG and Quandt , RE . 1982 . Racetrack betting and informed behaviour . Journal of Financial Economics , 10 : 187 – 94 .
  • Busche , K and Hall , CD . 1988 . An exception to the risk preference anomaly . Journal of Business , 61 : 337 – 46 .
  • Busche , K and Walls , WD . 2000 . Decision cost and betting market efficiency . Rationality and Society , 12 : 477 – 92 .
  • Busche , K and Walls , WD . 2001 . Breakage and betting market efficiency: evidence from the horse track . Applied Economics Letters , 8 : 601 – 4 .
  • Sauer , RD . 1998 . The economics of wagering markets . Journal of Economic Literature , 36 : 2021 – 64 .
  • Sobel , RS and Raines , ST . 2003 . An examination of the empirical derivatives of the favourite-longshot bias in racetrack betting . Applied Economics , 35 : 371 – 85 .
  • Swindler , S and Shaw , R . 1995 . Racetrack wagering and the uninformed bettor: a study of market efficiency . Quarterly Review of Economics and Finance , 35 : 305 – 14 .
  • Thaler , RH and Ziemba , WT . 1998 . Anomalies: parimutuel betting markets: racetracks and lotteries . The Journal of Economic Perspectives , 2 : 161 – 74 .
  • Vaughan Williams , L and Paton , D . 1998 . Do betting cost explain betting biases? . Applied Economics Letters , 5 : 333 – 5 .
  • Vaughan Williams , L . 1999 . Information efficiency in betting markets: a survey . Bulletin of Economic Research , 51 : 307 – 37 .
  • Walls WD Busche K 2003 Breakage, turnover, and betting market efficiency: new evidence from Japanese horse tracks The Economics of Gambling (Ed.) L. Vaughan Williams Routledge New York pp. 43–66

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