Efficiency Of Racetrack Betting Markets [Paperback]

Donald B. Hausch (Author)

Book Description

ISBN-10: 9812819185 | ISBN-13: 978-9812819185 | Publication Date: June 20, 2008 | Edition: 2008 Ed

A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.

Contents: Psychological Studies; Utility Preferences of Racetrack Bettors; Economic and Mathematical Insights; Efficiency of Win Markets and the Favorite-Longshot Bias; Prices versus Handicapping: Place and Show Anomalies; Efficiency of Exotic Wagering Markets; Research in the Commonwealth and Asia.

Editorial Reviews

Review

This volume contains many seminal works exploring the efficiency of racetrack betting markets. Since its first publication, this book fast became the bible for all leading betting market scholars and practitioners. The contents have been debated at many academic conferences and the ideas contained here have spawned several successful racing syndicates. There are gems within these pages for the discerning scholar of speculative markets in general and racetrack betting markets in particular. Each time I read the book, fresh ideas for new research spring to mind. This is a must read and a must re-read for anyone seriously interested in racetrack betting markets. For those who have stalked the Internet trying desperately to get hold of a copy of the original volume at a reasonable price, this is a much welcomed 2008 edition --Professor Johnnie E V Johnson, University of Southampton, UK

Efficiency of Racetrack Betting Markets has attained cult status among serious students of betting, and the few copies in private hands have long been prized and jealously guarded by their owners. It is indeed a genuine classic which is as relevant today as it was on the day it was first published. As such, it deserves pride of place on the desks of all who care about this fascinating field of enquiry. --Professor Leighton Vaughan Williams, Nottingham Trent University

Horseplayers have long understood what economists have recently come to appreciate that the racetrack provides an intriguing laboratory for a better understanding of human behavior. Every year millions of dollars are gambled on horses, and crunching the numbers yields important insights into how real people think about risk and uncertainty, and about how we are often rational and sometimes irrational when making our picks. This extraordinary volume brings together much of the key economic research on these questions, while keeping a consistent focus on the racetrack. The various contributions provide an intriguing tour for the roving economist, and also some key insights for the sharp horseplayer --Justin Wolfers, The Wharton School, University of Pennsylvania

Product Details

• Paperback: 680 pages
• Publisher: World Scientific Publishing Company; 2008 Ed edition (June 20, 2008)
• Language: English
• ISBN-10: 9812819185
• ISBN-13: 978-9812819185
• Product Dimensions: 6 x 1.5 x 9 inches
• Shipping Weight: 2.4 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,155,391 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars Classic horse racing reference book, November 11, 2011

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zerocred - See all my reviews

This review is from: Efficiency Of Racetrack Betting Markets (Paperback)

This is essential reading to anyone undertaking mathematical horse race betting effort - heavy going with the maths for sure.