Information Efficiency in Financial and Betting Markets
Editorial Reviews
Book Description
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).
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The degree to which markets incorporate information is one of the most important questions facing economists today. This book provides a fascinating study of the existence and extent of information efficiency in financial markets, with a special focus on betting markets. Betting markets are selected for study because they incorporate features highly appropriate to a study of information efficiency, in particular the fact that each bet has a well-defined end point at which its value becomes certain. Using international examples, this is the first book to review and analyse the issue of information efficiency in both financial and betting markets. Part I is an extensive survey of the existing literature, while Part II presents a range of new readings by leading academics. Insights gained from the book will interest students of financial economics, financial market analysts, mathematicians and statisticians, and all those with a special interest in finance or gambling.
--This text refers to the
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Information Efficiency in Financial and Betting Markets
Information Efficiency in Financial and Betting Markets,Leighton Vaughan Williams,Cambridge University Press,0521816033,Business / Economics / Finance,Capital market,Economics - General,Efficient market theory,Finance,Gambling,Gambling - Track Betting,Games,Games/Puzzles,Mathematical models,Business & Economics / Economics / General,Economics
Information Efficiency in Financial and Betting Markets
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