TY  - BOOK
AU  - Vaughan Williams,Leighton
TI  - Information efficiency in financial and betting markets
SN  - 9780511493614 (ebook)
AV  - HG4523 .V35 2005
U1  - 332/.01/154 22
PY  - 2005///
CY  - Cambridge
PB  - Cambridge University Press
KW  - Capital market
KW  - Mathematical models
KW  - Gambling
KW  - Efficient market theory
KW  - Information theory in economics
N1  - Title from publisher's bibliographic system (viewed on 05 Oct 2015); 1; Information efficiency in financial markets; Leighton Vaughan Williams --; 2; Weak form information efficiency in betting markets; Leighton Vaughan Williams --; 3; Semi-strong and strong form information efficiency in betting markets; Leighton Vaughan Williams --; 4; An assessment of quasi-arbitrage opportunities in two fixed-odds horse-race betting markets; Michael A. Smith, David Paton and Leighton Vaughan Williams --; 5; The presence of favourites and biases in bookmakers' odds; William Collier and John Peirson --; 6; Searching for semi-strong form inefficiency in the UK racetrack betting market; Ming-Chien Sung, Johnnie E.V. Johnson and Alistair C. Bruce
N2  - 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 book reviews and analyses 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 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
UR  - https://doi.org/10.1017/CBO9780511493614
ER  -