The Growth of Gambling and Prediction Markets: Economic and Financial Implications
AbstractIn recent years, there has been a substantial global increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections and wagering on financial instruments. This trend has heightened interest in numerous economic and financial issues related to this sector. These include questions relating to the efficiency of these markets, heterogeneity in risk attitudes among economic agents, and the use of prediction markets in policy analysis. The papers in this special issue provide a mix of theoretical and empirical evidence on these issues. Copyright (c) The London School of Economics and Political Science 2008.
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 76 (2009)
Issue (Month): 302 (04)
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- Smith, Michael A. & Paton, David & Williams, Leighton Vaughan, 2009. "Do bookmakers possess superior skills to bettors in predicting outcomes?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 539-549, August.
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