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Monopoly Rents and Price Fixing in Betting Markets


  • David Paton


  • Leighton Vaughan Williams



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Suggested Citation

  • David Paton & Leighton Vaughan Williams, 2001. "Monopoly Rents and Price Fixing in Betting Markets," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 19(3), pages 265-278, November.
  • Handle: RePEc:kap:revind:v:19:y:2001:i:3:p:265-278
    DOI: 10.1023/A:1011828216881

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    References listed on IDEAS

    1. Richard E. Quandt, 1986. "Betting and Equilibrium," The Quarterly Journal of Economics, Oxford University Press, vol. 101(1), pages 201-207.
    2. Bird, Ron & McCrae, Michael & Beggs, John J, 1987. "Are Gamblers Really Risk Takers?," Australian Economic Papers, Wiley Blackwell, vol. 26(49), pages 237-253, December.
    3. Gabriel, Paul E & Marsden, James R, 1990. "An Examination of Market Efficiency in British Racetrack Betting," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 874-885, August.
    4. Crafts, Nicholas F R, 1985. "Some Evidence of Insider Knowledge in Horse Race Betting in Britain," Economica, London School of Economics and Political Science, vol. 52(27), pages 295-304, August.
    5. Williams, Leighton Vaughan & Paton, David, 1997. "Why Is There a Favourite-Longshot Bias in British Racetrack Betting Markets?," Economic Journal, Royal Economic Society, vol. 107(440), pages 150-158, January.
    6. Busche, Kelly & Hall, Christopher D, 1988. "An Exception to the Risk Preference Anomaly," The Journal of Business, University of Chicago Press, vol. 61(3), pages 337-346, July.
    7. Ali, Mukhtar M, 1977. "Probability and Utility Estimates for Racetrack Bettors," Journal of Political Economy, University of Chicago Press, vol. 85(4), pages 803-815, August.
    8. Vaughan Williams, Leighton, 1999. "Information Efficiency in Betting Markets: A Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 51(1), pages 1-30, January.
    9. Victor S. Y. Lo & John Bacon-Shone & Kelly Busche, 1995. "The Application of Ranking Probability Models to Racetrack Betting," Management Science, INFORMS, vol. 41(6), pages 1048-1059, June.
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    Cited by:

    1. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2004. "Productivity Measurement in a Service Industry: Plant-Level Evidence from Gambling Establishments in the United Kingdom," Rensselaer Working Papers in Economics 0413, Rensselaer Polytechnic Institute, Department of Economics.
    2. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2002. "A Policy Response To The E--Commerce Revolution: The Case Of Betting Taxation In The UK," Economic Journal, Royal Economic Society, vol. 112(480), pages 296-314, June.

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    Collusion; information; monopoly rents; pricing;


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