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Corrigendum: The Economics of Wagering Markets


  • Raymond D. Sauer


CORRIGENDUM In "The Economics of Wagering Markets", by Raymond D. Sauer (December 1998), the two-paragraph discussion on page 2039 of Hurley and McDonough’s (1996b) model of the favorite long-shot bias contains an error of attribution. Whereas the results discussed in the second paragraph are new to their paper, the results discussed in the first paragraph were originally derived in Theorem 2 of Ali (1977).

Suggested Citation

  • Raymond D. Sauer, 1999. "Corrigendum: The Economics of Wagering Markets," Journal of Economic Literature, American Economic Association, vol. 37(2), pages 567-567, June.
  • Handle: RePEc:aea:jeclit:v:37:y:1999:i:2:p:567-567
    Note: DOI: 10.1257/jel.37.2.567

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    More about this item

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism


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