Leighton Vaughan Williams

Biographic Data

ID3605676
NAMELeighton Vaughan Williams
GIVEN NAMESLeighton Vaughan
FAMILY NAMEWilliams
SIGNATUREWILLIAMS L V
AFFILIATIONSNottingham Trent University
ORCID0000-0002-9639-9217
VERIFIEDYes
TOTAL WORKS10
TOTAL CITATIONS24
AUTHOR COUNT10
EDITOR COUNT0
FIRST PUBLICATION YEAR1997
LATEST PUBLICATION YEAR2023
H-INDEX3

  • Insights into the accuracy of social scientists' forecasts of societal change

    Open AccessThe Forecasting Collaborative, Igor Grossmann et al.ARTICLENature Human Behaviour2023Cited by: 3References: 58

  • Taxing Gambling Machines To Enhance Public and Private Revenue

    Open AccessThomas A Garrett, Douglas Paton et al.ARTICLEKyklos2020

    Electronic gambling (‘slot’) machines are a key component of the global gambling industry. We introduce a theoretical framework which shows that under reasonable assumptions, shifting from a per‐machine licence fee to a gross profits tax (GPT) on machine revenue can help to resolve policy tensions between industry profitability, economic growth and government revenue. We test the theory using data on recent changes to gambling taxation in the UK,…

  • Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory

    Open AccessLeighton Vaughan Williams, Ming‐Chien Sung et al.ARTICLEEconomica2018References: 30

    Evidence of differential returns to bets placed with different probabilities of success has revealed a broadly systematic tendency for low/high‐probability events to be relatively overbet/underbet, a phenomenon known as the favourite–longshot bias. While most of the literature focuses on sports, especially horse racing, we report here the existence of the same phenomenon in online poker games. We find that misperception rather than risk‐love offe…

  • The Oxford Handbook of the Economics of Gambling

    Leighton Vaughan Williams, Leighton Vaughan-Williams et al.BOOKThe Oxford Handbook of the…2013

  • Do New Gambling Products Displace Old? Evidence from a Postcode Analysis

    Douglas Paton, David Paton et al.ARTICLERegional Studies2011References: 1

    Paton D. and Vaughan Williams L. Do new gambling products displace old? Evidence from a postcode analysis. Regional Studies. This paper examines the extent to which new gambling products displace traditional products. In particular, it tests whether the introduction of fixed-odds betting terminals (FOBTs) affected the number of traditional gambling machines in Great Britain. It uses data from geographical districts based on postcodes within Great…

  • Productivity growth and funding of public service broadcasting

    Open AccessPaul Fenn, Douglas Paton et al.ARTICLEPublic Choice2009References: 22

  • The Growth of Gambling and Prediction Markets: Economic and Financial Implications

    Open AccessDouglas Paton, David Paton et al.ARTICLEEconomica2009References: 15

    In recent years, there has been a substantial global increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections and wagering on financial instruments. This trend has heightened interest in numerous economic and financial issues related to this sector. These include questions relating to the efficiency of these markets, heterogeneity in risk attitudes among economic agents, and the use of prediction market…

  • Market Efficiency in Person‐to‐Person Betting

    Open AccessMichael Smith, Michael A Smith et al.ARTICLEEconomica2006Cited by: 4References: 14

    Bookmakers have argued that person‐to‐person internet ‘betting exchanges’ represent unfair competition. In this paper we suggest that, in fact, betting exchanges have brought about significant efficiency gains by lowering transaction costs for consumers. We test this hypothesis using matched data on UK horse racing from betting exchanges and from traditional betting media. In comparison with traditional betting media, we find that betting exchang…

  • A Policy Response to the E‐Commerce Revolution: The Case of Betting Taxation in the UK

    Open AccessDouglas Paton, David Paton et al.ARTICLEThe Economic Journal2002Cited by: 5References: 25

    Several environmental changes in the 1990s – including the introduction of a national lottery, the rise of Internet gambling, and the reduction of trade barriers within the EU – induced the UK government to initiate a large-scale review of betting duty. As a result of this review, the government recently announced a significant reduction in betting taxes. They also decided to replace the current general betting duty (GBD), levied as a proportion …

  • Why is There a Favourite-Longshot Bias in British Racetrack Betting Markets

    Open AccessLeighton Vaughan Williams, Douglas Paton et al.ARTICLEThe Economic Journal1997Cited by: 12References: 3

    In this paper we employ a large new data set to examine explanations of the tendency for favourites to be under-bet and longshots over-bet in recent British racetrack betting markets. We demonstrate that both demand and supply side factors can explain this favourite--longshot bias and propose new empirical tests to identify the influence of insider trading on the bias. The results suggest that the adverse selection problem faced by bookmakers, in…