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Article: The double-auction gambling market: an experimental examination.(Institutional Change and Placing a Bet)(Report)
- Article from:
- The American Journal of Economics and Sociology
- Article date:
- July 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Blackwell Publishers Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Introduction
IN THIS PAPER, I COMPARE the information aggregating properties of new peer-to-peer gambling exchanges with more traditional bookmaking institutions. Economists have consistently found that sportsbooks predict the outcomes of sporting events with near perfect efficiency (Pankoff 1968; Woodland and Woodland 1994; Gray and Gray 1997). This finding is often marshaled to demonstrate the power of markets to utilize disparate and privately held information to make probabilistic predictions of uncertain outcomes.
However, this venerable institution is now facing competition from double-auction based "sports exchanges" that offer more ...
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Article: Some key elements in double-header package of bills
Chicago Sun-Times;
December 6, 1986 ;
416 words
... ... horse-racing and stadium packages the Legislature sent to Gov. Thompson: HORSE RACING Privilege tax cut to 2 percent of money wagered, from the current sliding scale that tops at 7.75 percent. Off-track betting allowed at 14 unspecified sites, with ...
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