Historical Political Futures Markets: An International Perspective
AbstractPolitical future markets, in which investors bet on election outcomes, are often thought a recent invention. Such markets in fact have a long history in many Western countries. This paper traces the operation of political futures markets back to 16th Century Italy, 18th Century Britain, and 19th Century United States. In the United States, election betting was a common part of political campaigns in the antebellum period, but became increasingly concentrated in the organized futures markets in New York City over the postbellum period.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14377.
Date of creation: Oct 2008
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Find related papers by JEL classification:
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-
- N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-07 (All new papers)
- NEP-HIS-2008-10-07 (Business, Economic & Financial History)
- NEP-POL-2008-10-07 (Positive Political Economics)
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- Snowberg, Erik & Wolfers, Justin & Zitzewitz, Eric, 2011.
"How Prediction Markets Can Save Event Studies,"
IZA Discussion Papers
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- Erik Snowberg & Justin Wolfers & Eric Zitzewitz, 2011. "How Prediction Markets Can Save Event Studies," NBER Working Papers 16949, National Bureau of Economic Research, Inc.
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- Snowberg, Erik & Wolfers, Justin & Zitzewitz, Eric, 2011. "How Prediction Markets Can Save Event Studies," CEPR Discussion Papers 8351, C.E.P.R. Discussion Papers.
- Erik Snowberg & Justin Wolfers & Eric Zitzewitz, 2011. "How Prediction Markets can Save Event Studies," CESifo Working Paper Series 3434, CESifo Group Munich.
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