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Estimates of the degree of insider trading in two disparate betting markets

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  • Michael Cain
  • David Law
  • David Peel

Abstract

Conditional on the Shin (Economic Journal, 103, 1993) model, the incidence of insider trading is estimated in two different British betting markets: those for horse-racing and the 1997 general election. Formal testing confirms that insider trading is significantly lower in handicap than non-handicap races.

Suggested Citation

  • Michael Cain & David Law & David Peel, 1999. "Estimates of the degree of insider trading in two disparate betting markets," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 191-193.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:3:p:191-193
    DOI: 10.1080/135048599353618
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