Sie können Bookmarks mittels Listen verwalten, loggen Sie sich dafür bitte in Ihr SLUB Benutzerkonto ein.
Medientyp:
E-Artikel
Titel:
INFORMATION AND EFFICIENCY: GOAL ARRIVAL IN SOCCER BETTING
Beteiligte:
Croxson, Karen;
Reade, J. James
Erschienen:
Wiley-Blackwell, 2014
Erschienen in:
The Economic Journal, 124 (2014) 575, Seite 62-91
Sprache:
Englisch
DOI:
10.1111/ecoj.12033
ISSN:
0013-0133;
1468-0297
Entstehung:
Anmerkungen:
Beschreibung:
An efficient market incorporates news into prices immediately and fully. Tests for efficiency in financial markets have been undermined by information leakage. We test for efficiency in sports betting markets - real-world markets where news breaks remarkably cleanly. Applying a novel identification to high-frequency data, we investigate the reaction of prices to goals scored on the 'cusp' of half-time. This strategy allows us to separate the market's response to major news (a goal), from its reaction to the continual flow of minor game-time news. On our evidence, prices update swiftly and fully.