Efficiency and Profitability in Exotic Bets
Bibliographic Data
| ID | 9722939 |
|---|---|
| Authors | Peter Asch, Richard E Quandt |
| Year | 1987 |
| Volume | 54 |
| Issue | 215 |
| Pages | 289 |
| Publication date | 1987-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554443 |
| OpenAlex | W2080529923 |
| Language | EN |
| Citations received | 12 |
| References cited | 4 |
The efficiency and profitability of exotic racetrack bets such as exactas and daily doubles are examined. Efficiency is understood to mean that above average returns cannot be made in the long run once risk is appropriately controlled for. The markets in question are found not to be efficient; the inefficiencies, however, are insufficient to permit simple strategies to show a consistent profit. Some evidence of "smart money" exists in that holders of inside information may bet on exactas rather than equivalent standard bets in order to avoid signaling their actions to the betting public. Copyright 1987 by The Review of Economic Studies Limited
Econometrics · Economics · Financial economics · Market efficiency · Microeconomics · Order (exchange) · Profit (economics) · Profitability index · Simple (philosophy) · Consumer Market Behavior and Pricing · Finance · Gambling Behavior and Treatments · Sports Analytics and Performance
Re-engineering scientific credit in the era of the globalized information economy
Why econometricians don't replicate (although they do reproduce)
Anomalies
To what extent do investors in a financial market anchor their judgments excessively? Evidence from the Hong Kong horserace betting market
Looking for Those Natural Numbers
Bettors Love Skewness, Not Risk, at the Horse Track
Problems in the Paternity of Econometrics
On the Optimal Design of Lotteries
Is Racetrack Betting on Exactas Efficient
Explaining the Favorite–Long Shot Bias
On utility function estimation of racetrack bettors
Decision Costs and Betting Market Efficiency
| Unique citing works | 12 |
|---|---|
| Citations per year | 0,32 |
| Citation span | 1988 - 2010 (23) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |