IDEAS home Printed from https://ideas.repec.org/h/wsi/wschap/9789812819192_0061.html
   My bibliography  Save this book chapter

Efficient Market Results in an Asian Setting

In: Efficiency Of Racetrack Betting Markets

Author

Listed:
  • Kelly Busche

    (School of Economics, University of Hong Kong, Hong Kong)

Abstract

Researchers concerned with efficiency of racetrack betting seem agreed on the existence of market inefficiency or risk preference among gamblers. However, Busche and Hall (1988) found an anomaly: they analyzed 2,653 races run in Hong Kong from 1981 to 1986, and could not reject a hypothesis of equal average returns across groups of horses. I present evidence that the above result is not unique. I find virtually identical results when I examine a sample of 2,690 new Hong Kong races, pool all 5,343 Hong Kong races (Table 1), or examine 1,738 races run in Japan during 1990 (Table 2)…

Suggested Citation

  • Kelly Busche, 2008. "Efficient Market Results in an Asian Setting," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 61, pages 615-616, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812819192_0061
    as

    Download full text from publisher

    File URL: https://www.worldscientific.com/doi/pdf/10.1142/9789812819192_0061
    Download Restriction: Ebook Access is available upon purchase.
    File URL: https://www.worldscientific.com/doi/abs/10.1142/9789812819192_0061
    Download Restriction: Ebook Access is available upon purchase.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tai, Chung-Ching & Lin, Hung-Wen & Chie, Bin-Tzong & Tung, Chen-Yuan, 2019. "Predicting the failures of prediction markets: A procedure of decision making using classification models," International Journal of Forecasting, Elsevier, vol. 35(1), pages 297-312.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:wschap:9789812819192_0061. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscientific.com/page/worldscibooks .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.