Locks at the Racetrack

Donald B. Hausch and William T. Ziemba
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Donald B. Hausch: School of Business University of Wisconsin Madison, Wisconsin 53706, USA
William T. Ziemba: Faculty of Commerce and Business Administration University of British Columbia Vancouver, BC, Canada V6T 1Y8, Canada

Chapter 4 in Calendar Anomalies and Arbitrage, 2012, pp 117-124 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe folklore of investment is replete with stories of arbitrage opportunities where profits can be made without risk. Such a "lock" exists at the racetrack. A simple model provides a criterion for existence of a set of bets to create the arbitrage plus the size of the various investments…

Keywords: Calendar Anomalies; Arbitrage; Stock Prices; Stock Returns; US Stock Market; Futures Markets; Betting; Trading Strategies; Sports Market; Lottery Market; Capital Growth Theory; Semi-Strong Market Efficiency; Speculative Investments; Index Futures; Factor Models Based on Fundamental Anomalies; Worldwide Stock Market Strategies (search for similar items in EconPapers)
Date: 2012
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