Testing Efficiency Across Markets: Evidence from the NCAA Basketball Betting Market

L. Lee Colquitt, Norman H. Godwin and Steven B Caudill

Journal of Business Finance & Accounting, 2001, vol. 28, issue 1‐2, 231-248

Abstract: This study utilizes the National Collegiate Athletic Association basketball point spread betting market to investigate whether differences in information availability across markets result in different relative efficiencies of price formation within those markets. Using intra‐conference games of various conferences as clearly defined markets, we show that these markets are efficient given the information available in those markets. However, we also show that regression error variances are significantly smaller (greater) for those conferences with greater (lesser) information availability. This evidence supports previous stock market research suggesting that differential fundamental information availability across stock markets results in differential departures from equilibrium values.

Date: 2001
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://doi.org/10.1111/1468-5957.00372

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jbfnac:v:28:y:2001:i:1-2:p:231-248

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0306-686X

Access Statistics for this article

Journal of Business Finance & Accounting is currently edited by P. F. Pope, A. W. Stark and M. Walker

More articles in Journal of Business Finance & Accounting from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().