The ordinal efficiency of betting markets: an exploded logit approach

Johnson, Johnnie; Bruce, Alistair Cameron; Yu, Jiejun

[journal article]

dc.contributor.author	Johnson, Johnnie	de
dc.contributor.author	Bruce, Alistair Cameron	de
dc.contributor.author	Yu, Jiejun	de
dc.date.accessioned	2011-04-01T02:52:00Z	de
dc.date.accessioned	2012-08-29T23:07:52Z
dc.date.available	2012-08-29T23:07:52Z
dc.date.issued	2008	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/23891
dc.description.abstract	This paper offers a new perspective on efficiency in betting markets by examining the degree to which finishing order in horseraces corresponds to probabilities inherent in odds across different categories of horserace. The application of an exploded logit procedure reveals a significantly greater degree of ordinal efficiency in higher relative to lower class races. Explanations for the phenomenon include differences in prize-related incentives, cross-market distinctions in information markets and differential opportunity/incentive for market manipulation.	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.subject.other	market efficiency; betting
dc.title	The ordinal efficiency of betting markets: an exploded logit approach	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Applied Economics	de
dc.source.volume	42	de
dc.publisher.country	USA
dc.source.issue	29	de
dc.subject.classoz	Economic Sectors	en
dc.subject.classoz	Political Economy	en
dc.subject.classoz	Volkswirtschaftslehre	de
dc.subject.classoz	Wirtschaftssektoren	de
dc.subject.thesoz	Information	de
dc.subject.thesoz	information	en
dc.identifier.urn	urn:nbn:de:0168-ssoar-238910	de
dc.date.modified	2011-04-18T11:31:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
internal.identifier.thesoz	10036968
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	3703-3709
internal.identifier.classoz	1090304
internal.identifier.classoz	1090300
internal.identifier.journal	21	de
internal.identifier.document	32
internal.identifier.ddc	330
dc.identifier.doi	https://doi.org/10.1080/00036840802314622	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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Volkswirtschaftslehre (allgemein)
Political Economy (general)
Wirtschaftssektoren
Economic Sectors

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