An analysis of exotic wagers in a parimutuel setting

Applied Economics

Volumn 35, Issue 4, 2003, Pages 415-421

  Stein, William E ^a   Mizzi, Philip J ^b  

^a TEXAS A AND M UNIVERSITY   (United States)

^b ARIZONA STATE UNIVERSITY WEST   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

GAMBLING;

EID: 0037418530     PISSN: 00036846     EISSN: None     Source Type: Journal    
DOI: 10.1080/00036840210140137     Document Type: Article

References (10)

1. Ali, M. M. (1979) Some evidence of the efficiency of a speculative market, Econometrica, 47, 387-92.
2. Ali, M. M. (1998) Probability models on horse-race outcomes, Journal of Applied Statistics, 25(2), 221-9.
3. Asch, P., Malkiel, B. G. and Quandt, R. E. (1984) Market efficiency in racetrack betting, Journal of Business, 57, 165-75.
4. Bruce, A. C. and Johnson, J. E. V. (2000) Investigating the roots of the favourite-longshot bias: An analysis of decision-making by supply- and demand-side agents in parallel betting markets, Journal of Behavioral Decision Making, 13, 413-30.
5. Harville, D. A. (1973) Assigning probabilities to the outcomes of multi-entry competitions, Journal of the American Statistical Association, 68, 312-16.
6. Hausch, D. B., Ziemba, W. T. and Rubinstein, M. (1981) Efficiency of the market for racetrack betting, Management Science, 27, 1435-52.
7. Stein, W. E. and Mizzi, P. J. (1991) Estimation of the degree of market inefficiency in place and show betting at the racetrack, Mathematical and Computer Modeling, 15(9), 55-64.
8. Thalheimer, R. and Ali, M. M. (1995) Exotic betting opportunities, pricing policies and the demand for parimutuel horse race wagering, Applied Economics, 27(8), 689-703.
9. Williams, L. V. (1999) Information efficiency in betting markets: A survey, Bulletin of Economic Research, 51(1), 1-30.
10. Ziemba, W.T. and Hausch, D.B. (1984) Beat the Racetrack, New York: Harcourt Brace Jovanovich.