Information Efficiency in Financial and Betting Markets [Hardcover]

Analyses information efficiency in both financial and betting markets.Gambling markets offer economists a fascinating case study of how information efficiency operates in a market. Insights gained from gambling interest a wide community: governments, who like to tax gamblers; financial market analysts, who themselves gamble on the financial markets; and, lastly, mathematicians, who bring their particular skills to the great mathematical puzzle of gambling. All these will want to read this survey of the theory and practice of gambling, written by two experts from the US and Britain and using examples from an international range of sports betting markets.Gambling markets offer economists a fascinating case study of how information efficiency operates in a market. Insights gained from gambling interest a wide community: governments, who like to tax gamblers; financial market analysts, who themselves gamble on the financial markets; and, lastly, mathematicians, who bring their particular skills to the great mathematical puzzle of gambling. All these will want to read this survey of the theory and practice of gambling, written by two experts from the US and Britain and using examples from an international range of sports betting markets.This survey of the theory and practice of gambling uses examples from an international range of sports betting markets. Gambling markets offer economists a fascinating case study of how information efficiency operates in a market. Insights gained from gambling interest many: governments (who tax gamblers), financial market analysts (who gamble on the financial markets), and, lastly, mathematicians (who analyze the puzzle of gambling).List of figures; List of tables; List of contributors; Introduction; Part I: The Concept of Information Efficiency: 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 inforló“