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Locks at the Racetrack

In: Calendar Anomalies And Arbitrage

Author

Listed:
  • DONALD B. HAUSCH

    (School of Business University of Wisconsin Madison, Wisconsin 53706, USA)

  • WILLIAM T. ZIEMBA

    (Faculty of Commerce and Business Administration University of British Columbia Vancouver, BC, Canada V6T 1Y8, Canada)

Abstract

The folklore of investment is replete with stories of arbitrage opportunities where profits can be made without risk. Such a "lock" exists at the racetrack. A simple model provides a criterion for existence of a set of bets to create the arbitrage plus the size of the various investments…

Suggested Citation

  • Donald B. Hausch & William T. Ziemba, 2012. "Locks at the Racetrack," World Scientific Book Chapters, in: Calendar Anomalies And Arbitrage, chapter 4, pages 117-124, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814405461_0004
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