Historical Political Futures Markets: An International Perspective

Paul Rhode and Koleman Strumpf

No 14377, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Political future markets, in which investors bet on election outcomes, are often thought a recent invention. Such markets in fact have a long history in many Western countries. This paper traces the operation of political futures markets back to 16th Century Italy, 18th Century Britain, and 19th Century United States. In the United States, election betting was a common part of political campaigns in the antebellum period, but became increasingly concentrated in the organized futures markets in New York City over the postbellum period.

JEL-codes: G10 N12 N14 P16 (search for similar items in EconPapers)
Date: 2008-10
New Economics Papers: this item is included in nep-his and nep-pol
Note: DAE
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Citations: View citations in EconPapers (10)

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