Concavity Properties of Racetrack Betting Models

J. G. Kallberg and W. T. Ziemba
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J. G. Kallberg: New York University, USA
W. T. Ziemba: University of British Columbia, Canada

Chapter 14 in Efficiency of Racetrack Betting Markets, 2008, pp 99-107 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractSuppose in a given horserace there are n horses and the ith horse's chances of winning is qi. Let W1 be the amount bet on i by the crowd, W ≡ ∑W1 and 1–Q be the percentage track take…

Keywords: Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance (search for similar items in EconPapers)
Date: 2008
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