List of Contributors | |
Preface | |
Introduction | p. 1 |
Introduction to Psychological Studies | p. 5 |
Odds Adjustments by American Horse-Race Bettors | p. 9 |
Stability of Choices among Uncertain Alternatives | p. 15 |
A Footnote on Horse Race Betting | p. 27 |
Biases in Betting: An Application of Laboratory Findings | p. 31 |
Introduction to Utility Preferences of Racetrack Bettors | p. 39 |
On the Robustness of the Arrow-Pratt Risk Aversion Measure | p. 41 |
Utility Analysis and Group Behavior: An Empirical Study | p. 47 |
Gambling and Rationality | p. 57 |
Probability and Utility Estimates for Racetrack Bettors | p. 71 |
Introduction to Economic and Mathematical Insights | p. 87 |
Optimal Horse Race Bets | p. 93 |
Concavity Properties of Racetrack Betting Models | p. 99 |
Optimal Bets in Pari-Mutuel Systems | p. 109 |
Growth versus Security in Dynamic Investment Analysis | p. 127 |
Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races | p. 151 |
Still Searching for Positive Returns at the Track: Empirical Results from 2,000 Hong Kong Races | p. 173 |
Computer Based Horse Race Handicapping and Wagering Systems: A Report | p. 183 |
An Empirical Cross-Validation of Alternative Classification Strategies Applied to Harness Racing Data for Win Bets | p. 199 |
Assigning Probabilities to the Outcomes of Multi-Entry Competitions | p. 213 |
Permutation Probabilities as Models for Horse Races | p. 219 |
Estimating the Probabilities of the Outcomes of a Horse Race (Alternatives to the Harville Formulas) | p. 225 |
Application of Running Time Distribution Models in Japan | p. 237 |
Introduction to the Efficiency of Win Markets and the Favorite-Longshot Bias | p. 251 |
Anomalies - Parimutuel Betting Markets: Racetracks and Lotteries | p. 255 |
Horse Racing: Testing the Efficient Markets Model | p. 269 |
Back on the Track with the Efficient Markets Hypothesis | p. 279 |
Subjective Information and Market Efficiency in a Betting Model | p. 285 |
Racetrack Betting and Informed Behavior | p. 299 |
Applications of Logit Models in Racetrack Data | p. 307 |
Betting and Equilibrium | p. 315 |
Differences of Opinion at the Racetrack | p. 323 |
Prices of State Contingent Claims with Insider-Traders, and the Favourite-Longshot Bias | p. 343 |
Introduction to Prices versus Handicapping: Place and Show Anomalies | p. 355 |
Market Efficiency in Racetrack Betting | p. 357 |
Market Efficiency in Racetrack Betting: Further Evidence and a Correction | p. 369 |
Efficiency of the Market for Racetrack Betting | p. 373 |
Transactions Costs, Extent of Inefficiencies, Entries and Multiple Wagers in a Racetrack Betting Model | p. 391 |
Arbitrage Strategies for Cross-Track Betting on Major Horse Races | p. 405 |
Locks at the Racetrack | p. 423 |
Racetrack Betting - An Example of a Market with Efficient Arbitrage | p. 431 |
Introduction to the Efficiency of Exotic Wagering Markets | p. 445 |
Some Evidence of the Efficiency of a Speculative Market | p. 447 |
Efficiency and Profitability in Exotic Bets | p. 453 |
How Accurately do Bettors Bet on Doubles? | p. 465 |
Pricing Exotic Racetrack Wagers | p. 469 |
On the Efficiency of the Market for Double (Quinella) Bets at a Finnish Racetrack | p. 485 |
Efficient Market Adjustment of Odds Prices to Reflect Track Biases | p. 499 |
Post Position Bias; An Econometric Analysis of the 1987 Season at Exhibition Park | p. 511 |
Introduction to the Efficiency of Racetrack Betting Markets in England | p. 529 |
On the Efficiency and Equity of Betting Markets | p. 533 |
Winning Systems? Some Further Evidence on Insiders and Outsiders in British Horse Race Betting | p. 545 |
An Examination of Market Efficiency in British Racetrack Betting | p. 551 |
An Examination of Market Efficiency in British Racetrack Betting: Errata and Corrections | p. 563 |
The Dr. Z Betting System in England | p. 567 |
The Efficiency of Racetrack Betting Markets: Australian Evidence | p. 575 |
Anomalies in the Gambling Market | p. 583 |
Tests of the Efficiency of Racetrack Betting Using Bookmaker Odds | p. 593 |
An Exception to the Risk Preference Anomaly | p. 605 |
Efficient Market Results in an Asian Setting | p. 615 |
Cross-Track Betting: Is the Grass Greener on the Other Side? | p. 617 |
Annotated Additional Bibliography | p. 631 |
Annotated Bibliography of Handicapping Books | p. 639 |
Index | p. 643 |
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