Information Efficiency in Financial and Betting Markets
The degree to which markets incorporate information is one of the most important questions facing economists today. This book provides a fascinating study of the existence and extent of information efficiency in financial markets, with a special focus on betting markets. Betting markets are selected for study because they incorporate features highly appropriate to a study of information efficiency, in particular the fact that each bet has a well-defined end point at which its value becomes certain. Using international examples, this book reviews and analyses the issue of information efficiency in both financial and betting markets. Part I is an extensive survey of the existing literature, while Part II presents a range of readings by leading academics. Insights gained from the book will interest students of financial economics, financial market analysts, mathematicians and statisticians, and all those with a special interest in finance or gambling.
Vaughan Williams,Leighton (ed.), 2005.
"Information Efficiency in Financial and Betting Markets,"
Cambridge University Press, number 9780521816038.
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- Alasdair Brown, 2011.
"Evidence of in-play insider trading on a UK betting exchange,"
- David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009.
"The Growth of Gambling and Prediction Markets: Economic and Financial Implications,"
London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
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