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Leighton Vaughan Williams

Personal Details

First Name:Leighton
Middle Name:
Last Name:Vaughan Williams
Suffix:
RePEc Short-ID:pva57

Affiliation

Nottingham Business School
Nottingham Trent University

Nottingham, United Kingdom
http://www.ntu.ac.uk/nbs/

:

Burton Street, Nottingham, NG1 4BU
RePEc:edi:bsntuuk (more details at EDIRC)

Research output

as
Jump to: Working papers Articles Books Editorship

Working papers

  1. Leighton Vaughan Williams & James Reade, 2014. "Prediction Markets, Twitter and Bigotgate," Economics & Management Discussion Papers em-dp2014-09, Henley Business School, Reading University.
  2. Michael A. Smith & David Paton & Leighton Vaughan Williams, 2009. "Do Bookmakers Possess Superior Skills to Bettors in Predicting Outcomes?," Post-Print hal-00684229, HAL.
  3. David Paton & Leighton Vaughan Williams, 2007. "Broadcasting Productivity Growth in the UK," Occasional Papers 20, Industrial Economics Division.
  4. 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.
  5. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.
  6. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2003. "Taxation and the Demand for Gambling: New Evidence from the United Kingdom," Rensselaer Working Papers in Economics 0306, Rensselaer Polytechnic Institute, Department of Economics.
  7. Paton, David & Leighton Vaughan Williams, 2002. "'Quarbs' and Efficiency in Spread Betting Markets: can you beat the book?," Royal Economic Society Annual Conference 2002 155, Royal Economic Society.
  8. Leighton Vaughan Williams & David Paton, "undated". "A Direction Dynamic Approach to Inside Information," Working Papers 98/1, Faculty of Economics and Social Sciences, The Nottingham Trent University.
  9. Leighton Vaughan Williams & David Paton, "undated". "Explaining the Sign of Betting Biases?," Working Papers 97/11, Faculty of Economics and Social Sciences, The Nottingham Trent University.
  10. David Paton & Leighton Vaughan Williams, "undated". "Do Transactions Costs Explain Market Efficiency in Football Fixed Odds and Spread Betting Markets," Working Papers 9710, Faculty of Economics and Social Sciences, The Nottingham Trent University.
  11. David Paton & Leighton Vaughan Williams, "undated". "Advertising: signal of productive efficiency or cause of allocative inefficiency," Working Papers 97/8, Faculty of Economics and Social Sciences, The Nottingham Trent University.
  12. David Paton & Leighton Vaughan Williams & Stuart Fraser, "undated". "Can Regulation Make Betting Markets More Efficient?," Working Papers 98/3, Faculty of Economics and Social Sciences, The Nottingham Trent University.
  13. Leighton Vaughan Williams & David Paton, "undated". "Odds, Information and Arbitrage: Explorations in a Betting Market," Working Papers 97/3, Faculty of Economics and Social Sciences, The Nottingham Trent University.

Articles

  1. Leighton Vaughan Williams & J. James Reade, 2016. "Forecasting Elections," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 35(4), pages 308-328, July.
  2. Leighton Vaughan Williams & J. James Reade, 2016. "Prediction Markets, Social Media and Information Efficiency," Kyklos, Wiley Blackwell, vol. 69(3), pages 518-556, August.
  3. Leighton Vaughan Williams, 2015. "Forecasting the decisions of the US Supreme Court: lessons from the ‘affordable care act’ judgment," Journal of Prediction Markets, University of Buckingham Press, vol. 9(1), pages 64-78.
  4. Leighton Vaughan Williams & David Paton, 2015. "Forecasting the Outcome of Closed‐Door Decisions: Evidence from 500 Years of Betting on Papal Conclaves," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 34(5), pages 391-404, August.
  5. Leighton Vaughan Williams, 2014. "The Churchill Betting Tax, 1926-30: A historical and economic perspective," Economic Issues Journal Articles, Economic Issues, vol. 19(2), pages 21-38, September.
  6. David Paton & Leighton Vaughan Williams, 2013. "Do New Gambling Products Displace Old? Evidence from a Postcode Analysis," Regional Studies, Taylor & Francis Journals, vol. 47(6), pages 963-973, June.
  7. Leighton Vaughan Williams & Blake Saville & Herman Stekler, 2011. "Do Polls Or Markets Forecast Better? Evidence From The 2010 Us Senate Elections," Journal of Prediction Markets, University of Buckingham Press, vol. 5(3), pages 64-74.
  8. Vaughan Williams, Leighton & Stekler, Herman O., 2010. "Sports forecasting," International Journal of Forecasting, Elsevier, vol. 26(3), pages 445-447, July.
    • Herman O. Stekler, 2007. "Sports Forecasting," Working Papers 2007-001, The George Washington University, Department of Economics, Research Program on Forecasting, revised Jan 2007.
  9. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2010. "Symposium - Gambling, Prediction Markets and Public Policy," Southern Economic Journal, Southern Economic Association, vol. 76(4), pages 878-883, April.
  10. Smith, Michael A. & Vaughan Williams, Leighton, 2010. "Forecasting horse race outcomes: New evidence on odds bias in UK betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 543-550, July.
  11. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2010. "Symposium - Productivity Measurement in Gambling: Plant-level Evidence from the United Kingdom," Southern Economic Journal, Southern Economic Association, vol. 76(4), pages 953-975, April.
  12. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
  13. Paul Fenn & David Paton & Leighton Vaughan Williams, 2009. "Productivity growth and funding of public service broadcasting," Public Choice, Springer, vol. 141(3), pages 335-349, December.
  14. Leighton Vaughan Williams & Julie Vaughan Williams, 2009. "The Cleverness of Crowds," Journal of Prediction Markets, University of Buckingham Press, vol. 3(3), pages 45-47, December.
  15. Leighton Vaughan Williams, 2007. "Introduction to the First Issue from the Editor," Journal of Prediction Markets, University of Buckingham Press, vol. 1(1), pages 1-1, February.
  16. Chongcheul Cheong & Tesfa Mehari & Leighton Williams, 2006. "Dynamic Links Between Unexpected Exchange Rate Variation, Prices, and International Trade," Open Economies Review, Springer, vol. 17(2), pages 221-233, April.
  17. Michael A. Smith & David Paton & Leighton Vaughan Williams, 2006. "Market Efficiency in Person-to-Person Betting," Economica, London School of Economics and Political Science, vol. 73(292), pages 673-689, November.
  18. David Paton & Leighton Vaughan Williams, 2005. "Forecasting outcomes in spread betting markets: can bettors use 'quarbs' to beat the book?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(2), pages 139-154.
  19. Charalambos Pattichis & Chongcheul Cheong & Tesfa Mehari & Leighton Vaughan Williams, 2004. "Exchange rate uncertainty, UK trade and the euro," Applied Financial Economics, Taylor & Francis Journals, vol. 14(12), pages 885-893.
  20. David Paton & Leighton Vaughan Williams, 2002. "Identifying irregularities in a financial market," Applied Financial Economics, Taylor & Francis Journals, vol. 12(9), pages 633-637.
  21. 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.
  22. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2001. "Gambling Taxation: A Comment," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 34(4), pages 437-440.
  23. 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.
  24. Leighton Vaughan Williams, 2001. "Can Bettors Win?," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(1), pages 31-48, January.
  25. Leighton Vaughan Williams, 2001. "Insiders and International finance: Evidence From Complementary Markets Patterns in Neighboring Areas," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 5(2), pages 208-214, Winter.
  26. Paton, David & Vaughan Williams, Leighton & Fraser, Stuart, 1999. "Regulating Insider Trading in Betting Markets," Bulletin of Economic Research, Wiley Blackwell, vol. 51(3), pages 237-241, July.
  27. Vaughan Williams, Leighton, 1999. "Information Efficiency in Betting Markets: A Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 51(1), pages 1-30, January.
  28. David Paton & Leighton Vaughan Williams, 1998. "Do betting costs explain betting biases?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(5), pages 333-335.
  29. Leighton Vaughan Williams & David Paton, 1998. "Why are some favourite-longshot biases positive and others negative?," Applied Economics, Taylor & Francis Journals, vol. 30(11), pages 1505-1510.
  30. 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.
  31. Leighton Vaughan Williams & David Paton, 1997. "Does information efficiency require a perception of information inefficiency?," Applied Economics Letters, Taylor & Francis Journals, vol. 4(10), pages 615-617.

Books

  1. Vaughan Williams, Leighton & Siegel, Donald S. (ed.), 2014. "The Oxford Handbook of the Economics of Gambling," OUP Catalogue, Oxford University Press, number 9780199797912.
  2. Leighton Vaughan Williams (ed.), 2012. "The Economics of Gambling and National Lotteries," Books, Edward Elgar Publishing, number 3047.
  3. Vaughan Williams,Leighton (ed.), 2009. "Information Efficiency in Financial and Betting Markets," Cambridge Books, Cambridge University Press, number 9780521108171, October.
  4. Vaughan Williams,Leighton (ed.), 2005. "Information Efficiency in Financial and Betting Markets," Cambridge Books, Cambridge University Press, number 9780521816038, October.

Editorship

  1. Journal of Prediction Markets, University of Buckingham Press.
  2. Journal of Gambling Business and Economics, University of Buckingham Press.

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Paton, David & Leighton Vaughan Williams, 2002. "'Quarbs' and Efficiency in Spread Betting Markets: can you beat the book?," Royal Economic Society Annual Conference 2002 155, Royal Economic Society.

    Mentioned in:

    1. Incentives at the racetrack
      by chris dillow in Stumbling and Mumbling on 2007-09-26 20:13:06

Wikipedia mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.

    Mentioned in:

    1. Wikipedia:Articles for deletion/Log/2010 February 21 in Wikipedia (English)
    2. Wikipedia:Articles for deletion/Matched betting in Wikipedia (English)

Working papers

  1. Leighton Vaughan Williams & James Reade, 2014. "Prediction Markets, Twitter and Bigotgate," Economics & Management Discussion Papers em-dp2014-09, Henley Business School, Reading University.

    Cited by:

    1. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Inefficiencies: Evidence from Twitter and Betfair," Dundee Discussion Papers in Economics 293, Economic Studies, University of Dundee.
    2. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Ine!ciencies: Evidence from Twitter and Betfair," Working Papers 2016-002, The George Washington University, Department of Economics, Research Program on Forecasting.

  2. Michael A. Smith & David Paton & Leighton Vaughan Williams, 2009. "Do Bookmakers Possess Superior Skills to Bettors in Predicting Outcomes?," Post-Print hal-00684229, HAL.

    Cited by:

    1. Michal Król, 2011. "Product differentiation decisions under ambiguous consumer demand and pessimistic expectations," The School of Economics Discussion Paper Series 1103, Economics, The University of Manchester.
    2. Choi, Darwin & Hui, Sam K., 2014. "The role of surprise: Understanding overreaction and underreaction to unanticipated events using in-play soccer betting market," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 614-629.
    3. Peeters, Thomas, 2018. "Testing the Wisdom of Crowds in the field: Transfermarkt valuations and international soccer results," International Journal of Forecasting, Elsevier, vol. 34(1), pages 17-29.
    4. Egon Franck & Erwin Verbeek & Stephan Nüesch, 2013. "Inter-market Arbitrage in Betting," Economica, London School of Economics and Political Science, vol. 80(318), pages 300-325, April.
    5. Kauffeldt, Florian & Wiesenfarth, Boris, 2014. "Confidence, Pessimism and their Impact on Product Differentiation in a Hotelling Model with Demand Location Uncertainty," Working Papers 0562, University of Heidelberg, Department of Economics.
    6. Raphael Flepp & Stephan Nüesch & Egon Franck, 2014. " The Liquidity Advantage of the Quote-Driven Market: Evidence from the Betting Industry," Working Papers 342, University of Zurich, Department of Business Administration (IBW).
    7. Egon Franck & Erwin Verbeek & Stephan Nuesch, 2009. "Inter- market Arbitrage in Sports Betting," NCER Working Paper Series 48, National Centre for Econometric Research.

  3. 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.

    Cited by:

    1. Polák, Petr, 2017. "The productivity paradox: A meta-analysis," Information Economics and Policy, Elsevier, vol. 38(C), pages 38-54.

  4. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.

    Cited by:

    1. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.

  5. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2003. "Taxation and the Demand for Gambling: New Evidence from the United Kingdom," Rensselaer Working Papers in Economics 0306, Rensselaer Polytechnic Institute, Department of Economics.

    Cited by:

    1. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
    2. David Forrest, 2014. "Football and betting," Chapters,in: Handbook on the Economics of Professional Football, chapter 23, pages 383-400 Edward Elgar Publishing.
    3. Hasret Benar & Glenn Jenkins, 2006. "Regulation and Taxation of Casinos under State-Monopoly, Private Monopoly and Casino Association Regimes," Working Papers 1088, Queen's University, Department of Economics.
    4. Hasret Benar & Glenn Jenkins, 2008. "The economics of casino taxation," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 63-73.
    5. Leighton Vaughan Williams, 2014. "The Churchill Betting Tax, 1926-30: A historical and economic perspective," Economic Issues Journal Articles, Economic Issues, vol. 19(2), pages 21-38, September.
    6. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
    7. Alessandro Pandimiglio & Marco Spallone, 2011. "L'elasticitˆ della domanda nel mercato italiano dei giochi: inquadramento generale ed analisi dei casi del lotto e del superenalotto," Working Papers CASMEF 1108, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    8. Gu, Xinhua & Tam, Pui Sun, 2014. "Tax incidence and price discrimination: An application of theories to gambling markets," China Economic Review, Elsevier, vol. 28(C), pages 135-151.

Articles

  1. Leighton Vaughan Williams & J. James Reade, 2016. "Forecasting Elections," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 35(4), pages 308-328, July.

    Cited by:

    1. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Inefficiencies: Evidence from Twitter and Betfair," Dundee Discussion Papers in Economics 293, Economic Studies, University of Dundee.
    2. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Ine!ciencies: Evidence from Twitter and Betfair," Working Papers 2016-002, The George Washington University, Department of Economics, Research Program on Forecasting.
    3. John Fry & Andrew Brint, 2017. "Bubbles, Blind-Spots and Brexit," Risks, MDPI, Open Access Journal, vol. 5(3), pages 1-15, July.

  2. Leighton Vaughan Williams & J. James Reade, 2016. "Prediction Markets, Social Media and Information Efficiency," Kyklos, Wiley Blackwell, vol. 69(3), pages 518-556, August.

    Cited by:

    1. Christine Benesch & Simon Loretz & David Stadelmann & Tobias Thomas, 2018. "Media Coverage and Immigration Worries: Econometric Evidence," SOEPpapers on Multidisciplinary Panel Data Research 970, DIW Berlin, The German Socio-Economic Panel (SOEP).

  3. Leighton Vaughan Williams & David Paton, 2015. "Forecasting the Outcome of Closed‐Door Decisions: Evidence from 500 Years of Betting on Papal Conclaves," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 34(5), pages 391-404, August.

    Cited by:

    1. Maxime Menuet, 2017. "Consensus-building in Electoral Competitions: Evidence from Papal Elections," Economics Bulletin, AccessEcon, vol. 37(4), pages 2826-2834.

  4. Smith, Michael A. & Vaughan Williams, Leighton, 2010. "Forecasting horse race outcomes: New evidence on odds bias in UK betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 543-550, July.

    Cited by:

    1. Sung, Ming-Chien & McDonald, David C.J. & Johnson, Johnnie E.V., 2016. "Probabilistic forecasting with discrete choice models: Evaluating predictions with pseudo-coefficients of determination," European Journal of Operational Research, Elsevier, vol. 248(3), pages 1021-1030.
    2. Fildes, Robert, 2015. "Forecasters and rationality—A comment on Fritsche et al., Forecasting the Brazilian Real and Mexican Peso: Asymmetric loss, forecast rationality and forecaster herding," International Journal of Forecasting, Elsevier, vol. 31(1), pages 140-143.

  5. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.

    Cited by:

    1. Smith, Michael A. & Paton, David & Williams, Leighton Vaughan, 2009. "Do bookmakers possess superior skills to bettors in predicting outcomes?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 539-549, August.

  6. Paul Fenn & David Paton & Leighton Vaughan Williams, 2009. "Productivity growth and funding of public service broadcasting," Public Choice, Springer, vol. 141(3), pages 335-349, December.

    Cited by:

    1. Sedat Cereci, 2013. "Positive Impact of Art as a Communication Instrument on Economical Productivity," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 1(1), pages 35-38.

  7. Leighton Vaughan Williams, 2007. "Introduction to the First Issue from the Editor," Journal of Prediction Markets, University of Buckingham Press, vol. 1(1), pages 1-1, February.

    Cited by:

    1. Mueller, Michel G. & de Haan, Peter, 2009. "How much do incentives affect car purchase? Agent-based microsimulation of consumer choice of new cars--Part I: Model structure, simulation of bounded rationality, and model validation," Energy Policy, Elsevier, vol. 37(3), pages 1072-1082, March.
    2. Hart, Diane & Paucar-Caceres, Alberto, 2017. "A utilisation focussed and viable systems approach for evaluating technology supported learning," European Journal of Operational Research, Elsevier, vol. 259(2), pages 626-641.

  8. Chongcheul Cheong & Tesfa Mehari & Leighton Williams, 2006. "Dynamic Links Between Unexpected Exchange Rate Variation, Prices, and International Trade," Open Economies Review, Springer, vol. 17(2), pages 221-233, April.

    Cited by:

    1. Muteba Mwamba, John & Dube, Sandile, 2014. "The impact of exchange rate volatility on international trade between South Africa, China and USA: The case of the manufacturing sector," MPRA Paper 64389, University Library of Munich, Germany.
    2. Dimitrios Serenis & Paul Serenis, 2010. "Exchange Rate Volatility, the E.U. and Sectoral Exports: New Empirical Evidence from the Chemical Sector (1973-2005)," Research in World Economy, Research in World Economy, Sciedu Press, vol. 1(1), pages 47-55, November.

  9. Michael A. Smith & David Paton & Leighton Vaughan Williams, 2006. "Market Efficiency in Person-to-Person Betting," Economica, London School of Economics and Political Science, vol. 73(292), pages 673-689, November.

    Cited by:

    1. Karen Croxson & J. James Reade, 2011. "Exchange vs Dealers: A High-Frequency Analysis of In-Play Betting Prices," Discussion Papers 11-19, Department of Economics, University of Birmingham.
    2. Eric Cardella & Carl Kitchens, 2017. "The impact of award uncertainty on settlement negotiations," Experimental Economics, Springer;Economic Science Association, vol. 20(2), pages 333-367, June.
    3. Smith, Michael A. & Paton, David & Williams, Leighton Vaughan, 2009. "Do bookmakers possess superior skills to bettors in predicting outcomes?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 539-549, August.
    4. Page, Lionel, 2009. "Is there an optimistic bias on betting markets?," Economics Letters, Elsevier, vol. 102(2), pages 70-72, February.
    5. Restocchi, Valerio & McGroarty, Frank & Gerding, Enrico & Johnson, Johnnie E.V., 2018. "It takes all sorts: A heterogeneous agent explanation for prediction market mispricing," European Journal of Operational Research, Elsevier, vol. 270(2), pages 556-569.
    6. Sung, Ming-Chien & Johnson, Johnnie E.V. & McDonald, David C.J., 2016. "Informed trading, market efficiency and volatility," Economics Letters, Elsevier, vol. 149(C), pages 56-59.
    7. Martin Kukuk & Stefan Winter, 2008. "An Alternative Explanation of the Favorite-Longshot Bias," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 2(2), pages 79-96, September.
    8. Smith, Michael A. & Vaughan Williams, Leighton, 2010. "Forecasting horse race outcomes: New evidence on odds bias in UK betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 543-550, July.
    9. Brown, Alasdair & Yang, Fuyu, 2015. "Does society underestimate women? Evidence from the performance of female jockeys in horse racing," Journal of Economic Behavior & Organization, Elsevier, vol. 111(C), pages 106-118.
    10. Egon Franck & Erwin Verbeek & Stephan Nüesch, 2013. "Inter-market Arbitrage in Betting," Economica, London School of Economics and Political Science, vol. 80(318), pages 300-325, April.
    11. Martin Spann & Bernd Skiera, 2009. "Sports forecasting: a comparison of the forecast accuracy of prediction markets, betting odds and tipsters," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(1), pages 55-72.
    12. Raphael Flepp & Stephan Nüesch & Egon Franck, 2014. " The Liquidity Advantage of the Quote-Driven Market: Evidence from the Betting Industry," Working Papers 342, University of Zurich, Department of Business Administration (IBW).
    13. Marshall, Ben R., 2009. "How quickly is temporary market inefficiency removed?," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 917-930, August.
    14. Loreto Llorente, 2006. "A Profitable Strategy in the Pelota Betting Market," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0606, Departamento de Economía - Universidad Pública de Navarra.
    15. Egon Franck & Erwin Verbeek & Stephan Nüesch, 2008. "Prediction Accuracy of Different Market Structures – Bookmakers versus a Betting Exchange," Working Papers 0096, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2009.
    16. Restocchi, Valerio & McGroarty, Frank & Gerding, Enrico & Johnson, Johnnie E.V., 2017. "The impact of transaction costs on state-contingent claims mispricing," Finance Research Letters, Elsevier, vol. 23(C), pages 174-178.
    17. Nikolaos Vlastakis & George Dotsis & Raphael N. Markellos, 2009. "How efficient is the European football betting market? Evidence from arbitrage and trading strategies," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(5), pages 426-444.
    18. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
    19. Dominic Cortis & Steve Hales & Frank Bezzina, 2013. "Profiting On Inefficiencies In Betting Derivative Markets: The Case Of Uefa Euro 2012," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 7(1), pages 39-51.
    20. John Peirson, 2008. "Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behaviour," Studies in Economics 0819, School of Economics, University of Kent.
    21. Stefan Winter & Martin Kukuk, 2008. "Do horses like vodka and sponging? - On market manipulation and the favourite-longshot bias," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 75-87.

  10. David Paton & Leighton Vaughan Williams, 2005. "Forecasting outcomes in spread betting markets: can bettors use 'quarbs' to beat the book?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(2), pages 139-154.

    Cited by:

    1. Benjamin Waggoner & Daniel Wines & Brian P. Soebbing & Chad S. Seifried & Jean Michael Martinez, 2014. "“Hot Hand” in the National Basketball Association Point Spread Betting Market: A 34-Year Analysis," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 2(4), pages 1-12, November.
    2. Marshall, Ben R., 2009. "How quickly is temporary market inefficiency removed?," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 917-930, August.
    3. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.
    4. Nikolaos Vlastakis & George Dotsis & Raphael N. Markellos, 2009. "How efficient is the European football betting market? Evidence from arbitrage and trading strategies," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(5), pages 426-444.
    5. Hvattum, Lars Magnus & Arntzen, Halvard, 2010. "Using ELO ratings for match result prediction in association football," International Journal of Forecasting, Elsevier, vol. 26(3), pages 460-470, July.

  11. Charalambos Pattichis & Chongcheul Cheong & Tesfa Mehari & Leighton Vaughan Williams, 2004. "Exchange rate uncertainty, UK trade and the euro," Applied Financial Economics, Taylor & Francis Journals, vol. 14(12), pages 885-893.

    Cited by:

    1. Jonathan M. Chipili, 2013. "Exchange Rate Volatility and Trade Flows in Zambia," African Development Review, African Development Bank, vol. 25(1), pages 55-66, March.
    2. Chien-Chung Nieh & Jeng-Bau Lin & Yu-shan Wang, 2008. "Exchange rate uncertainty and corporate values: evidence from Taiwan," Applied Financial Economics, Taylor & Francis Journals, vol. 18(14), pages 1181-1192.

  12. 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.

    Cited by:

    1. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
    2. David Paton & Leighton Vaughan Williams, 2005. "Forecasting outcomes in spread betting markets: can bettors use 'quarbs' to beat the book?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(2), pages 139-154.
    3. Helmut Dietl & Christian Weingärtner, 2012. "Betting scandals and attenuated property rights - How betting related match fixing can be prevented in future," Working Papers 0154, University of Zurich, Institute for Strategy and Business Economics (ISU).
    4. Paton, David & Siegel, Donald S. & Williams, Leighton Vaughan, 2004. "Taxation and the Demand for Gambling: New Evidence From the United Kingdom," National Tax Journal, National Tax Association;National Tax Journal, vol. 57(4), pages 847-861, December.
    5. Barrett, Alan & Coleman, Kieran & Delaney, Liam & Fahey, Tony & Gannon, Brenda & Kearney, Ide & McCarthy, Yvonne & Nolan, Brian & Walsh, John R., 2006. "Budget Perspectives 2007," Research Series, Economic and Social Research Institute (ESRI), number BMI192 edited by Callan, Tim.
    6. Hasret Benar & Glenn Jenkins, 2008. "The economics of casino taxation," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 63-73.
    7. De Bonis, Valeria & Gandolfo, Alessandro, 2015. "Tax Policy Response to Market Changes: The Case of the Gaming Services Sector. - L’adeguamento della politica fiscale ai cambiamenti di mercato: il caso del settore del gioco pubblico," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 68(2), pages 173-186.
    8. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
    9. T Nesbit, 2007. "Excise Taxation and Product Quality: The Gasoline Market," Economic Issues Journal Articles, Economic Issues, vol. 12(2), pages 1-14, September.
    10. Juan Vidal-Puga, 2017. "On the effect of taxation in the online sports betting market," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 8(2), pages 145-175, June.
    11. Fahey, Tony & Delaney, Liam, 2006. "State Financial Support for Horse Racing in Ireland," Papers BP2007/3, Economic and Social Research Institute (ESRI).
    12. Valeria De Bonis & Alessandro Gandolfo, 2013. "The Italian Model of Gambling Taxation: Fiscal Policy Guidelines for the «Sustainable Development» of an Important and Controversial Market," Economia dei Servizi, Società editrice il Mulino, issue 3, pages 239-258.
    13. Leighton Vaughan Williams, 2014. "The Churchill Betting Tax, 1926-30: A historical and economic perspective," Economic Issues Journal Articles, Economic Issues, vol. 19(2), pages 21-38, September.

  13. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2001. "Gambling Taxation: A Comment," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 34(4), pages 437-440.

    Cited by:

    1. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
    2. Paton, David & Siegel, Donald S. & Williams, Leighton Vaughan, 2004. "Taxation and the Demand for Gambling: New Evidence From the United Kingdom," National Tax Journal, National Tax Association;National Tax Journal, vol. 57(4), pages 847-861, December.
    3. Hasret Benar & Glenn Jenkins, 2008. "The economics of casino taxation," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 63-73.
    4. Juan Vidal-Puga, 2017. "On the effect of taxation in the online sports betting market," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 8(2), pages 145-175, June.
    5. Leighton Vaughan Williams, 2014. "The Churchill Betting Tax, 1926-30: A historical and economic perspective," Economic Issues Journal Articles, Economic Issues, vol. 19(2), pages 21-38, September.

  14. 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.

    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.

  15. Paton, David & Vaughan Williams, Leighton & Fraser, Stuart, 1999. "Regulating Insider Trading in Betting Markets," Bulletin of Economic Research, Wiley Blackwell, vol. 51(3), pages 237-241, July.

    Cited by:

    1. Les Coleman, 2007. "Just How Serious is Insider Trading? An Evaluation using Thoroughbred Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 31-55, February.
    2. John Peirson & Michael A. Smith, 2010. "Symposium Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behavior," Southern Economic Journal, Southern Economic Association, vol. 76(4), pages 976-992, April.
    3. John Peirson, 2008. "Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behaviour," Studies in Economics 0819, School of Economics, University of Kent.

  16. Vaughan Williams, Leighton, 1999. "Information Efficiency in Betting Markets: A Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 51(1), pages 1-30, January.

    Cited by:

    1. M Cain & D Law & D Peel, 2005. "Cumulative prospect theory and gambling," Working Papers 566823, Lancaster University Management School, Economics Department.
    2. Peter A. Bebbington & Julius Bonart, 2016. "Order statistics of horse racing and the randomly broken stick," Papers 1612.02567, arXiv.org.
    3. Stekler, H.O. & Sendor, David & Verlander, Richard, 2010. "Issues in sports forecasting," International Journal of Forecasting, Elsevier, vol. 26(3), pages 606-621, July.
      • Herman O. Stekler & David Sendor & Richard Verlander, 2009. "Issues in Sports Forecasting," Working Papers 2009-002, The George Washington University, Department of Economics, Research Program on Forecasting.
    4. Babatunde Buraimo & David Peel & Rob Simmons, 2013. "Systematic Positive Expected Returns in the UK Fixed Odds Betting Market: An Analysis of the Fink Tank Predictions," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 1(4), pages 1-15, December.
    5. Ma, Tiejun & Tang, Leilei & McGroarty, Frank & Sung, Ming-Chien & Johnson, Johnnie E. V, 2016. "Time is money: Costing the impact of duration misperception in market prices," European Journal of Operational Research, Elsevier, vol. 255(2), pages 397-410.
    6. Frédéric KOESSLER & Anthony ZIEGELMEYER & Marie-Hélène BROIHANNE, 2002. "The Favorite-Longshot Bias in Sequential parimutuel Betting with Non-Expected Utility Players," Working Papers of BETA 2002-12, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    7. 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.
    8. Lionel Page, 2012. "‘It ain’t over till it's over.’ Yogi Berra bias on prediction markets," Applied Economics, Taylor & Francis Journals, vol. 44(1), pages 81-92, January.
    9. David Paton & Leighton Vaughan Williams, 2005. "Forecasting outcomes in spread betting markets: can bettors use 'quarbs' to beat the book?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(2), pages 139-154.
    10. Smith, Michael A. & Vaughan Williams, Leighton, 2010. "Forecasting horse race outcomes: New evidence on odds bias in UK betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 543-550, July.
    11. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: A Survey of the Literature," Working Papers 1109, College of the Holy Cross, Department of Economics.
    12. Lessmann, Stefan & Sung, Ming-Chien & Johnson, Johnnie E.V. & Ma, Tiejun, 2012. "A new methodology for generating and combining statistical forecasting models to enhance competitive event prediction," European Journal of Operational Research, Elsevier, vol. 218(1), pages 163-174.
    13. Lessmann, Stefan & Sung, Ming-Chien & Johnson, Johnnie E.V., 2009. "Identifying winners of competitive events: A SVM-based classification model for horserace prediction," European Journal of Operational Research, Elsevier, vol. 196(2), pages 569-577, July.
    14. Frederic Koessler & Ch. Noussair & A. Ziegelmeyer, 2005. "Individual Behavior and Beliefs in Experimental Parimutuel Betting Markets," THEMA Working Papers 2005-08, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    15. Les Coleman, 2007. "Just How Serious is Insider Trading? An Evaluation using Thoroughbred Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 31-55, February.
    16. Frédéric Koessler & Charles Noussair & Anthony Ziegelmeyer, 2008. "Parimutuel betting under asymmetric information," Post-Print halshs-00754275, HAL.
    17. James Reade, 2014. "Detecting corruption in football," Chapters,in: Handbook on the Economics of Professional Football, chapter 25, pages 419-446 Edward Elgar Publishing.
    18. Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2017. "On the Efficiency of Racetrack Betting Market: A New Test for the Favorite-Longshot Bias," Working papers 2017rwp-106, Yonsei University, Yonsei Economics Research Institute.
    19. D. A. Peel, 2012. "Further examples of the impact of skewness on the expected utility of a risk-averse agent," Applied Economics Letters, Taylor & Francis Journals, vol. 19(12), pages 1117-1121, August.
    20. Forrest, David & Goddard, John & Simmons, Robert, 2005. "Odds-setters as forecasters: The case of English football," International Journal of Forecasting, Elsevier, vol. 21(3), pages 551-564.
    21. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
    22. Marshall, Ben R., 2009. "How quickly is temporary market inefficiency removed?," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 917-930, August.
    23. Frédéric Koessler & Charles Noussair & Anthony Ziegelmeyer, 2012. "Information Aggregation and Beliefs in Experimental Parimutuel Betting Markets," PSE - Labex "OSE-Ouvrir la Science Economique" halshs-00754582, HAL.
    24. Nilsson, Håkan & Andersson, Patric, 2010. "Making the seemingly impossible appear possible: Effects of conjunction fallacies in evaluations of bets on football games," Journal of Economic Psychology, Elsevier, vol. 31(2), pages 172-180, April.
    25. Hwang, Joon Ho & Kim, Min-Su, 2015. "Misunderstanding of the binomial distribution, market inefficiency, and learning behavior: Evidence from an exotic sports betting market," European Journal of Operational Research, Elsevier, vol. 243(1), pages 333-344.
    26. William Hurley & Lawrence McDonough, 2007. "Imperfect Market-Maker Competition, Heterogeneous Expectations, and The Favourite-Longshot Bias in Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 3-12, February.
    27. Egon Franck & Erwin Verbeek & Stephan Nüesch, 2008. "Prediction Accuracy of Different Market Structures – Bookmakers versus a Betting Exchange," Working Papers 0096, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2009.
    28. Colantonio Emiliano, 2013. "Betting Markets: Opportunities For Many?," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 200-208, December.
    29. John Goddard & Peter Sloane (ed.), 2014. "Handbook on the Economics of Professional Football," Books, Edward Elgar Publishing, number 14821.
    30. Johnson, J.E.V. & Peel, D. & Peirson, J., 2010. "Systematic and varying biases in parallel state contingent gambling markets," Economics Letters, Elsevier, vol. 109(2), pages 82-84, November.
    31. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.
    32. Nikolaos Vlastakis & George Dotsis & Raphael N. Markellos, 2009. "How efficient is the European football betting market? Evidence from arbitrage and trading strategies," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(5), pages 426-444.
    33. John Fry & Andrew Brint, 2017. "Bubbles, Blind-Spots and Brexit," Risks, MDPI, Open Access Journal, vol. 5(3), pages 1-15, July.
    34. Koessler, Frédéric & Noussair, Charles & Ziegelmeyer, Anthony, 2012. "Information aggregation and belief elicitation in experimental parimutuel betting markets," Journal of Economic Behavior & Organization, Elsevier, vol. 83(2), pages 195-208.
    35. David A. Peel & Davind Law, 2009. "An Explanation of Optimal Each-Way Bets based on Non-Expected Utility Theory," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 3(2), pages 15-35, September.
    36. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
    37. Jennifer Brown & Dylan B. Minor, 2011. "Selecting the Best? Spillover and Shadows in Elimination Tournaments," NBER Working Papers 17639, National Bureau of Economic Research, Inc.
    38. William Stein & Philip Mizzi, 2003. "An analysis of exotic wagers in a parimutuel setting," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 415-421.

  17. David Paton & Leighton Vaughan Williams, 1998. "Do betting costs explain betting biases?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(5), pages 333-335.

    Cited by:

    1. Marshall Gramm & Douglas Owens, 2005. "Determinants of betting market efficiency," Applied Economics Letters, Taylor & Francis Journals, vol. 12(3), pages 181-185.
    2. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.
    3. Marshall Gramm & C. Nicholas McKinney & Douglas Owens, 2008. "The efficiency of exotic wagers in racetrack betting," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 89-97.

  18. Leighton Vaughan Williams & David Paton, 1998. "Why are some favourite-longshot biases positive and others negative?," Applied Economics, Taylor & Francis Journals, vol. 30(11), pages 1505-1510.

    Cited by:

    1. Niko Suhonen, 2011. "Market Efficiency in Finnish Harness Horse Racing," Finnish Economic Papers, Finnish Economic Association, vol. 24(1), pages 55-63, Spring.
    2. Stekler, H.O. & Sendor, David & Verlander, Richard, 2010. "Issues in sports forecasting," International Journal of Forecasting, Elsevier, vol. 26(3), pages 606-621, July.
      • Herman O. Stekler & David Sendor & Richard Verlander, 2009. "Issues in Sports Forecasting," Working Papers 2009-002, The George Washington University, Department of Economics, Research Program on Forecasting.
    3. W. David Walls & Kelly Busche, 2003. "Broken odds and the favourite-longshot bias in parimutuel betting: a direct test," Applied Economics Letters, Taylor & Francis Journals, vol. 10(5), pages 311-314, April.
    4. Page, Lionel, 2009. "Is there an optimistic bias on betting markets?," Economics Letters, Elsevier, vol. 102(2), pages 70-72, February.
    5. Schmidt, Carsten & Strobel, Martin & Volkland, Henning Oskar, 2008. "Accuracy, certainty and surprise : a prediction market on the outcome of the 2002 FIFA World Cup," Papers 08-13, Sonderforschungsbreich 504.
    6. McGee, Richard J. & Johnson, Johnnie E.V., 2017. "Everyone’s a winner: The market impact of technologically advantaged agents," Economics Letters, Elsevier, vol. 156(C), pages 95-98.
    7. Russell Sobel & S. Travis Raines, 2003. "An examination of the empirical derivatives of the favourite-longshot bias in racetrack betting," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 371-385.
    8. Les Coleman, 2007. "Just How Serious is Insider Trading? An Evaluation using Thoroughbred Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 31-55, February.
    9. Les Coleman, 2004. "New light on the longshot bias," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 315-326.
    10. Benjamin Waggoner & Daniel Wines & Brian P. Soebbing & Chad S. Seifried & Jean Michael Martinez, 2014. "“Hot Hand” in the National Basketball Association Point Spread Betting Market: A 34-Year Analysis," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 2(4), pages 1-12, November.
    11. Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2017. "On the Efficiency of Racetrack Betting Market: A New Test for the Favorite-Longshot Bias," Working papers 2017rwp-106, Yonsei University, Yonsei Economics Research Institute.
    12. Alistair C. Bruce & Johnnie E. V. Johnson & John D. Peirson & Jiejun Yu, 2009. "An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims," Economica, London School of Economics and Political Science, vol. 76(302), pages 282-303, April.
    13. William Hurley & Lawrence McDonough, 2007. "Imperfect Market-Maker Competition, Heterogeneous Expectations, and The Favourite-Longshot Bias in Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 3-12, February.
    14. Restocchi, Valerio & McGroarty, Frank & Gerding, Enrico & Johnson, Johnnie E.V., 2017. "The impact of transaction costs on state-contingent claims mispricing," Finance Research Letters, Elsevier, vol. 23(C), pages 174-178.
    15. Nikolaos Vlastakis & George Dotsis & Raphael N. Markellos, 2009. "How efficient is the European football betting market? Evidence from arbitrage and trading strategies," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(5), pages 426-444.
    16. Marshall Gramm & C. Nicholas McKinney & Douglas Owens, 2008. "The efficiency of exotic wagers in racetrack betting," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 89-97.

  19. 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.

    Cited by:

    1. Alasdair Brown & Fuyu Yang, 2014. "The Role of Speculative Trade in Market Efficiency: Evidence from a Betting Exchange," University of East Anglia Applied and Financial Economics Working Paper Series 068, School of Economics, University of East Anglia, Norwich, UK..
    2. Maschke Mario & Schmidt Ulrich, 2011. "Das Wettmonopol in Deutschland: Status quo und Reformansätze," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
    3. Smith, Michael A. & Paton, David & Williams, Leighton Vaughan, 2009. "Do bookmakers possess superior skills to bettors in predicting outcomes?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 539-549, August.
    4. M. Sung & J. E. V. Johnson, 2010. "Revealing Weak-Form Inefficiency in a Market for State Contingent Claims: The Importance of Market Ecology, Modelling Procedures and Investment Strategies," Economica, London School of Economics and Political Science, vol. 77(305), pages 128-147, January.
    5. Paton, David & Vaughan Williams, Leighton & Fraser, Stuart, 1999. "Regulating Insider Trading in Betting Markets," Bulletin of Economic Research, Wiley Blackwell, vol. 51(3), pages 237-241, July.
    6. Ma, Tiejun & Tang, Leilei & McGroarty, Frank & Sung, Ming-Chien & Johnson, Johnnie E. V, 2016. "Time is money: Costing the impact of duration misperception in market prices," European Journal of Operational Research, Elsevier, vol. 255(2), pages 397-410.
    7. Snowberg, Erik & Wolfers, Justin, 2010. "Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?," IZA Discussion Papers 4884, Institute for the Study of Labor (IZA).
    8. David Paton & Leighton Vaughan Williams, 1998. "Do betting costs explain betting biases?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(5), pages 333-335.
    9. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Inefficiencies: Evidence from Twitter and Betfair," Dundee Discussion Papers in Economics 293, Economic Studies, University of Dundee.
    10. Glenn Boyle, 2008. "Do Financial Incentives Affect The Quality of Expert Performance? Evidence from the Racetrack," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 2(2), pages 43-59, September.
    11. 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.
    12. Dominic Cortis, 2015. "Expected Values And Variances In Bookmaker Payouts: A Theoretical Approach Towards Setting Limits On Odds," Journal of Prediction Markets, University of Buckingham Press, vol. 9(1), pages 1-14.
    13. David Paton & Leighton Vaughan Williams, 2005. "Forecasting outcomes in spread betting markets: can bettors use 'quarbs' to beat the book?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(2), pages 139-154.
    14. Martin Kukuk & Stefan Winter, 2008. "An Alternative Explanation of the Favorite-Longshot Bias," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 2(2), pages 79-96, September.
    15. Smith, Michael A. & Vaughan Williams, Leighton, 2010. "Forecasting horse race outcomes: New evidence on odds bias in UK betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 543-550, July.
    16. Brown, Alasdair & Yang, Fuyu, 2015. "Does society underestimate women? Evidence from the performance of female jockeys in horse racing," Journal of Economic Behavior & Organization, Elsevier, vol. 111(C), pages 106-118.
    17. Les Coleman, 2007. "Just How Serious is Insider Trading? An Evaluation using Thoroughbred Wagering Markets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(1), pages 31-55, February.
    18. Ioannis Asimakopoulos & John Goddard, 2004. "Forecasting football results and the efficiency of fixed-odds betting," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(1), pages 51-66.
    19. Les Coleman, 2004. "New light on the longshot bias," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 315-326.
    20. Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2017. "On the Efficiency of Racetrack Betting Market: A New Test for the Favorite-Longshot Bias," Working papers 2017rwp-106, Yonsei University, Yonsei Economics Research Institute.
    21. Pavlo Blavatskyy & Ganna Pogrebna, 2008. "Risk Aversion when Gains are Likely and Unlikely: Evidence from a Natural Experiment with Large Stakes," Theory and Decision, Springer, vol. 64(2), pages 395-420, March.
    22. Bruce, Alistair C. & Johnson, Johnnie E.V., 2005. "Market ecology and decision behaviour in state-contingent claims markets," Journal of Economic Behavior & Organization, Elsevier, vol. 56(2), pages 199-217, February.
    23. Loreto Llorente, 2006. "A Profitable Strategy in the Pelota Betting Market," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0606, Departamento de Economía - Universidad Pública de Navarra.
    24. Lionel Page & Robert T. Clemen, 2013. "Do Prediction Markets Produce Well‐Calibrated Probability Forecasts?-super-," Economic Journal, Royal Economic Society, vol. 123(568), pages 491-513, May.
    25. García, Jaume & Pérez, Levi & Rodríguez, Plácido, 2016. "Forecasting football match results: Are the many smarter than the few?," MPRA Paper 69687, University Library of Munich, Germany.
    26. Alistair C. Bruce & Johnnie E. V. Johnson & John D. Peirson & Jiejun Yu, 2009. "An Examination of the Determinants of Biased Behaviour in a Market for State Contingent Claims," Economica, London School of Economics and Political Science, vol. 76(302), pages 282-303, April.
    27. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Ine!ciencies: Evidence from Twitter and Betfair," Working Papers 2016-002, The George Washington University, Department of Economics, Research Program on Forecasting.
    28. Michael A. Smith & David Paton & Leighton Vaughan-Williams, 2004. "Costs, biases and betting markets: new evidence," Working Papers 2004/5, Nottingham Trent University, Nottingham Business School, Economics Division.
    29. Nikolaos Vlastakis & George Dotsis & Raphael N. Markellos, 2009. "How efficient is the European football betting market? Evidence from arbitrage and trading strategies," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(5), pages 426-444.
    30. Oikonomidis, Anastasios & Bruce, Alistair C. & Johnson, Johnnie E.V., 2015. "Does transparency imply efficiency? The case of the European soccer betting market," Economics Letters, Elsevier, vol. 128(C), pages 59-61.
    31. Leighton Vaughan Williams & David Paton, 1998. "Why are some favourite-longshot biases positive and others negative?," Applied Economics, Taylor & Francis Journals, vol. 30(11), pages 1505-1510.
    32. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.
    33. Alasdair Brown & Fuyu Yang, 2015. "Adverse Selection, Speed Bumps and Asset Market Quality," University of East Anglia Applied and Financial Economics Working Paper Series 070, School of Economics, University of East Anglia, Norwich, UK..
    34. John Peirson, 2008. "Expert Analysis and Insider Information in Horse Race Betting: Regulating Informed Market Behaviour," Studies in Economics 0819, School of Economics, University of Kent.
    35. Stefan Winter & Martin Kukuk, 2008. "Do horses like vodka and sponging? - On market manipulation and the favourite-longshot bias," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 75-87.

Books

  1. Vaughan Williams,Leighton (ed.), 2005. "Information Efficiency in Financial and Betting Markets," Cambridge Books, Cambridge University Press, number 9780521816038, October.

    Cited by:

    1. Alasdair Brown & Fuyu Yang, 2017. "The Role of Speculative Trade in Market Efficiency: Evidence from a Betting Exchange," Review of Finance, European Finance Association, vol. 21(2), pages 583-603.
    2. Alasdair Brown, 2011. "Evidence of in-play insider trading on a UK betting exchange," Post-Print hal-00670250, HAL.
    3. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2009. "The Growth of Gambling and Prediction Markets: Economic and Financial Implications," Economica, London School of Economics and Political Science, vol. 76(302), pages 219-224, April.

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NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 6 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.
  1. NEP-EFF: Efficiency & Productivity (1) 2007-01-13
  2. NEP-MFD: Microfinance (1) 2003-11-03
  3. NEP-MIC: Microeconomics (1) 2002-07-17
  4. NEP-MST: Market Microstructure (1) 2015-01-03
  5. NEP-POL: Positive Political Economics (1) 2015-01-03

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IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.