Journal of Economics and Finance

, Volume 29, Issue 3, pp 385–390 | Cite as

Appropriate statistical methodology for testing the efficiency of betting markets involving spread and totals

  • M. Woodland
  • Linda M. Woodland
Sports Symposium

Abstract

This paper compares the accuracy of commonly used tests of market efficiency and provides a recommendation for future research.

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References

  1. Even, W.E., and N.R. Noble. 1992. “Testing Efficiency in Gambling Markets.”Applied Economics 24: 85–88.CrossRefGoogle Scholar
  2. Gandar, J., R. Zuber, and B. Russo. 1993. “Testing Efficiency in Gambling Markets: A Comment.”Applied Economics 25: 937–943.CrossRefGoogle Scholar
  3. Paul, J., A. Weinbach, and C. Weinbach. 2003. “Fair Bets and Profitability in College Football Gambling.”Journal of Economics and Finance 27: 236–242.Google Scholar
  4. Tryfos, P., S. Casey, S. Cook, G. Leger, and B. Pylypiak. 1984. “The Profitability of Wagering on NFL Games.”Management Science 30: 123–132.CrossRefGoogle Scholar
  5. Woodland, B., and L. Woodland. 1997. “Efficiency in Gambling Markets Involving Spread: A Corrected and Simplified Test.”Applied Economic Letters 4: 93–95.CrossRefGoogle Scholar

Copyright information

© Springer 2005

Authors and Affiliations

  • M. Woodland
    • 1
  • Linda M. Woodland
    • 1
  1. 1.College of BusinessEastern Michigan UniversityYpsilanti

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