Efficiency of Racetrack Betting Markets
Editor
- Donald B Hausch(University of Wisconsin-Madison, USA)Victor SY Lo(University of British Columbia, Canada)William T Ziemba(University of British Columbia, Canada)
Abstract
A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.Individual chapters are listed in the "Chapters" tab
Suggested Citation
- Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), 2008. "Efficiency of Racetrack Betting Markets," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6910, August.
Handle: RePEc:wsi:wsbook:6910
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Book Chapters
The following chapters of this book are listed in IDEAS- Donald B HauschVictor SY LoWilliam T Ziemba, 2008. "Introduction," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 1, pages 1-3, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to Psychological Studies," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 2, pages 7-8, World Scientific Publishing Co. Pte. Ltd..
- R. M. Griffith, 2008. "Odds Adjustments By American Horse-Race Bettors," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 3, pages 9-13, World Scientific Publishing Co. Pte. Ltd..
- William H. Mcglothlin, 2008. "Stability Of Choices Among Uncertain Alternatives," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 4, pages 15-26, World Scientific Publishing Co. Pte. Ltd..
- Richard M. Griffith, 2008. "A Footnote On Horse Race Betting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 5, pages 27-30, World Scientific Publishing Co. Pte. Ltd..
- Mary Ann Metzger, 2008. "Biases In Betting: An Application Of Laboratory Findings," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 6, pages 31-36, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to Utility Preferences of Racetrack Bettors," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 7, pages 39-40, World Scientific Publishing Co. Pte. Ltd..
- J. G. Kallberg & W. T. Ziemba, 2008. "On The Robustness Of The Arrow–Pratt Risk Aversion Measure," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 8, pages 41-46, World Scientific Publishing Co. Pte. Ltd..
- Martin Weitzman, 2008. "Utility Analysis And Group Behavior An Empirical Study," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 9, pages 47-55, World Scientific Publishing Co. Pte. Ltd..
- Richard N. Rosett, 2008. "Gambling And Rationality," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 10, pages 57-70, World Scientific Publishing Co. Pte. Ltd..
- Mukhtar M. Ali, 2008. "Probability and Utility Estimates for Racetrack Bettors," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 11, pages 71-83, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to Economics and Mathematical Insights," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 12, pages 87-91, World Scientific Publishing Co. Pte. Ltd..
- Rufus Isaacs, 2008. "Optimal Horse Race Bets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 13, pages 93-97, World Scientific Publishing Co. Pte. Ltd..
- J. G. Kallberg & W. T. Ziemba, 2008. "Concavity Properties of Racetrack Betting Models," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 14, pages 99-107, World Scientific Publishing Co. Pte. Ltd..
- Nissan Levin, 2008. "Optimal Bets In Pari-Mutuel Systems," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 15, pages 109-125, World Scientific Publishing Co. Pte. Ltd..
- L. C. Maclean & W. T. Ziemba & G. Blazenko, 2008. "Growth Versus Security In Dynamic Investment Analysis," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 16, pages 127-150, World Scientific Publishing Co. Pte. Ltd..
- Ruth N. Bolton & Randall G. Chapman, 2008. "Searching For Positive Returns At The Track: A Multinomial Logit Model For Handicapping Horse Races," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 17, pages 151-171, World Scientific Publishing Co. Pte. Ltd..
- Randall G. Chapman, 2008. "Still Searching For Positive Returns At The Track: Empirical Results From 2,000 Hong Kong Races," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 18, pages 173-181, World Scientific Publishing Co. Pte. Ltd..
- William Benter, 2008. "Computer Based Horse Race Handicapping and Wagering Systems: A Report," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 19, pages 183-198, World Scientific Publishing Co. Pte. Ltd..
- Larry H. Ludlow, 2008. "An Empirical Cross-validation of Alternative Classification Strategies Applied to Harness Racing Data for Win Bets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 20, pages 199-212, World Scientific Publishing Co. Pte. Ltd..
- David A. Harville, 2008. "Assigning Probabilities to the Outcomes of Multi-Entry Competitions," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 21, pages 213-217, World Scientific Publishing Co. Pte. Ltd..
- R. J. Henery, 2008. "Permutation Probabilities as Models for Horse Races," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 22, pages 219-224, World Scientific Publishing Co. Pte. Ltd..
- Hal S. Stern, 2008. "Estimating the Probabilities of the Outcomes of a Horse Race (Alternatives to the Harville Formulas)," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 23, pages 225-235, World Scientific Publishing Co. Pte. Ltd..
- Victor S. Y. Lo, 2008. "Application of Running Time Distribution Models in Japan," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 24, pages 237-247, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to the Efficiency of Win Markets and the Favorite-Longshot Bias," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 25, pages 251-253, World Scientific Publishing Co. Pte. Ltd..
- Richard H. Thaler & William T. Ziemba, 2008. "Anomalies Parimutuel Betting Markets: Racetracks and Lotteries," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 26, pages 255-268, World Scientific Publishing Co. Pte. Ltd..
- Wayne W. Snyder, 2008. "Horse Racing: Testing The Efficient Markets Model," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 27, pages 269-278, World Scientific Publishing Co. Pte. Ltd..
- Robert L. Losey & John C. Talbott Jr., 2008. "Back on the Track with the Efficient Markets Hypothesis," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 28, pages 279-283, World Scientific Publishing Co. Pte. Ltd..
- Stephen Figlewski, 2008. "Subjective Information and Market Efficiency in a Betting Market," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 29, pages 285-298, World Scientific Publishing Co. Pte. Ltd..
- Peter ASCH & Burton G. MALKIEL & Richard E. QUANDT, 2008. "Racetrack Betting And Informed Behavior," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 30, pages 299-306, World Scientific Publishing Co. Pte. Ltd..
- Victor S. Y. Lo, 2008. "Application of Logit Models in Racetrack Data," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 31, pages 307-314, World Scientific Publishing Co. Pte. Ltd..
- Richard E. Quandt, 2008. "Betting And Equilibrium," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 32, pages 315-321, World Scientific Publishing Co. Pte. Ltd..
- Stephen R. Blough, 2008. "Differences Of Opinion At The Racetrack," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 33, pages 323-341, World Scientific Publishing Co. Pte. Ltd..
- Hyun Song Shin, 2008. "Prices Of State Contingent Claims With Insider Traders, And The Favourite-Longshot Bias," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 34, pages 343-352, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to Prices vs. Handicapping: Place and Show Anomalies," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 35, pages 355-356, World Scientific Publishing Co. Pte. Ltd..
- Peter Asch & Burton G. Malkiel & Richard E. Quandt, 2008. "Market Efficiency in Racetrack Betting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 36, pages 357-367, World Scientific Publishing Co. Pte. Ltd..
- Peter Asch & Burton G. Malkiel & Richard E. Quandt, 2008. "Market Efficiency in Racetrack Betting: Further Evidence and a Correction," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 37, pages 369-372, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & William T. Ziemba & Mark Rubinstein, 2008. "Efficiency Of The Market For Racetrack Betting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 38, pages 373-390, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & William T. Ziemba, 2008. "Transactions Costs, Extent Of Inefficiencies, Entries And Multiple Wagers In A Racetrack Betting Model," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 39, pages 391-404, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & William T. Ziemba, 2008. "Arbitrage Strategies for Cross-Track Betting on Major Horse Races," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 40, pages 405-422, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & William T. Ziemba, 2008. "Locks at the Racetrack," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 41, pages 423-430, World Scientific Publishing Co. Pte. Ltd..
- Jay R. Ritter, 2008. "Racetrack Betting–An Example Of A Market With Efficient Arbitrage," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 42, pages 431-441, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to the Efficiency of Exotic Wagering Markets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 43, pages 445-446, World Scientific Publishing Co. Pte. Ltd..
- Mukhtar M. Ali, 2008. "Some Evidence Of The Efficiency Of A Speculative Market," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 44, pages 447-452, World Scientific Publishing Co. Pte. Ltd..
- Peter Asch & Richard E. Quandt, 2008. "Efficiency and Profitability in Exotic Bets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 45, pages 453-463, World Scientific Publishing Co. Pte. Ltd..
- Victor S. Y. Lo & Kelly Busche, 2008. "How Accurately Do Bettors Bet in Doubles ?," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 46, pages 465-468, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Pricing Exotic Racetrack Wagers," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 47, pages 469-483, World Scientific Publishing Co. Pte. Ltd..
- Antti Kanto & Gunnar Rosenqvist, 2008. "On The Efficiency Of The Market For Double (Quinella) Bets At A Finnish Racetrack," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 48, pages 485-498, World Scientific Publishing Co. Pte. Ltd..
- Brian R. Canfield & Bruce C. Fauman & William T. Ziemba, 2008. "Efficient Market Adjustment Of Odds Prices To Reflect Track Biases," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 49, pages 499-510, World Scientific Publishing Co. Pte. Ltd..
- Sandra Betton, 2008. "POST POSITION BIAS: An Econometric Analysis of the 1987 Season at Exhibition Park," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 50, pages 511-526, World Scientific Publishing Co. Pte. Ltd..
- Donald B. Hausch & Victor S. Y. Lo & William T. Ziemba, 2008. "Introduction to the Efficiency of Racetrack Betting Markets in England," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 51, pages 529-531, World Scientific Publishing Co. Pte. Ltd..
- Jack Dowie, 2008. "On the Efficiency and Equity of Betting Markets," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 52, pages 533-544, World Scientific Publishing Co. Pte. Ltd..
- N F R Crafts, 2008. "Winning Systems?: Some Further Evidence on Insiders and Outsiders in British Horse Race Betting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 53, pages 545-549, World Scientific Publishing Co. Pte. Ltd..
- Paul E. Gabriel & James R. Marsden, 2008. "An Examination of Market Efficiency in British Racetrack Betting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 54, pages 551-562, World Scientific Publishing Co. Pte. Ltd..
- Paul Gabriel & James R. Marsden, 2008. "An Examination of Efficiency in British Racetrack Betting: Errata and Corrections," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 55, pages 563-565, World Scientific Publishing Co. Pte. Ltd..
- William T. Ziemba & Donald B. Hausch, 2008. "The Dr. Z Betting System in England," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 56, pages 567-574, World Scientific Publishing Co. Pte. Ltd..
- R. Bird & M. McCrae, 2008. "The Efficiency Of Racetrack Betting Markets: Australian Evidence," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 57, pages 575-582, World Scientific Publishing Co. Pte. Ltd..
- R. H. Tuckwell, 2008. "Anomalies In The Gambling Market," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 58, pages 583-591, World Scientific Publishing Co. Pte. Ltd..
- Ron Bird & Michael Mccrae, 2008. "Tests Of The Efficiency Of Racetrack Betting Using Bookmaker Odds," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 59, pages 593-603, World Scientific Publishing Co. Pte. Ltd..
- Kelly Busche & Christopher D. Hall, 2008. "An Exception to the Risk Preference Anomaly," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 60, pages 605-614, World Scientific Publishing Co. Pte. Ltd..
- Kelly Busche, 2008. "Efficient Market Results in an Asian Setting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 61, pages 615-616, World Scientific Publishing Co. Pte. Ltd..
- Siew Meng Leong & Kian Guan Lim, 2008. "Cross-Track Betting: Is the Crass Greener on the Other Side ?," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 62, pages 617-629, World Scientific Publishing Co. Pte. Ltd..
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Keywords
Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance;All these keywords.
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