Information efficiency in financial and betting markets / edited by Leighton Vaughan Williams.

Format:

Book

Contributor:

Vaughan Williams, Leighton, editor.

Language:

English

Subjects (All):

Capital market--Mathematical models.

Capital market.

Gambling--Mathematical models.

Gambling.

Efficient market theory--Mathematical models.

Efficient market theory.

Information theory in economics.

Physical Description:

1 online resource (xvii, 392 pages) : digital, PDF file(s).

Other Title:

Information Efficiency in Financial & Betting Markets

Place of Publication:

Cambridge : Cambridge University Press, 2005.

Language Note:

English

Summary:

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.

Contents:

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.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references and index.

ISBN:

1-107-14479-5

1-280-25603-6

0-511-12763-4

0-511-12781-2

0-511-19995-3

0-511-49361-4

0-511-32685-8

0-511-12728-6

OCLC:

171137395