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Parimutuel betting markets: racetracks and lotteries revisited

Ziemba, William (2020) Parimutuel betting markets: racetracks and lotteries revisited. Systemic Risk Centre Discussion Papers (103). Systemic Risk Centre, The London School of Economics and Political Science, London, UK.

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Abstract

This paper surveys the state of the art in research in racetrack and lottery markets. Market efficiency and the pricing of various wagers is studied along with new developments since the Thaler and Ziemba JEP review. Other sports betting markets are also discussed. The role of syndicates, betting exchange rebates, behavioral biases and fundamental information is discussed.

Item Type: Monograph (Discussion Paper)
Official URL: https://www.systemicrisk.ac.uk/
Additional Information: © 2020 The Author(s)
Divisions: Systemic Risk Centre
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
JEL classification: C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods
C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C50 - General
C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C79 - Other
D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty
G - Financial Economics > G1 - General Financial Markets > G11 - Portfolio Choice; Investment Decisions
G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency; Event Studies
Date Deposited: 05 Jun 2023 11:54
Last Modified: 16 Sep 2023 00:00
URI: http://eprints.lse.ac.uk/id/eprint/118873

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