The reverse favourite-longshot bias and market efficiency in major league baseball: An update

Bulletin of Economic Research

Volumn 55, Issue 2, 2003, Pages 113-123

  Woodland, Linda M ^a   Woodland, Bill M ^a  

^a EASTERN MICHIGAN UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

MARKET CONDITIONS; SPORT;

EID: 0037386757     PISSN: 03073378     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-8586.00165     Document Type: Article

References (8)

1. Gray, P. K. and Gray, S. F. (1997). 'Testing market efficiency: Evidence from the NFL sports betting market', Journal of Finance, 52, pp. 1729-37.
2. Griffith, R. M. (1949). 'Odds adjustments by American horse-racing bettors', American Journal of Psychology, 62, pp. 290-4.
3. Iskoe, A. (1998). Logical Approach's Pointspread Encyclopedia: Vol. 1. NFL Teams and Situations. Las Vegas, NV: Logical Approach.
4. Sauer, R. D. (1998). 'The economics of wagering markets', Journal of Economic Literature, 36, 4, pp. 2021-64.
5. Williams, L. V. (1999). 'Information efficiency in betting markets: A survey', Bulletin of Economic Research, 51, 1, pp. 1-30.
6. Williams, L. V. and Paton, D. (1998). 'Why are some favourite-longshot biases positive and others negative?', Applied Economics, 30, pp. 1505-10.
7. Woodland, L. M. and Woodland, B. M. (1994). 'Market efficiency and the favourite-longshot bias: The baseball betting market', Journal of Finance, 49, pp. 269-79.
8. Woodland, L. M. and Woodland, B. M. (2001). 'Market efficiency and profitable wagering in the National Hockey League: Can bettors' score on longshots?', Southern Economic Journal, 67, 4, pp. 983-95.