Another look at the efficiency of markets: the case of the tennis betting exchanges

• Tipo: Artigo em Revista Científica Internacional
• Data: 2015

Autores

Júlio Lobão (Autor) FEP; Rolla, Nuno (Autor) FEP

Revista

Título: RAE Revista de Administracao de Empresas

Vol. 55 Nº 4

Páginas: 418-431

ISSN: 0034-7590

Editora: Fundação Getúlio Vargas, Escola de Administração de Empresas de São Paulo

Indexação

ISI Web of Knowledge - 0 Citações

Scopus - 0 Citações

Outras Informações

ID Authenticus: P-00G-EJE

DOI: 10.1590/s0034-759020150406

Abstract (EN): In this article, we investigate the efficiency of the top tennis betting market worldwide using an original database from the Betfair betting exchange. Usually, the results show that the prices have made up a good forecast on the outcome of the matches. Nevertheless, there are evidences that the punters react poorly to the information (which is consistent with the conservatism and anchoring biases) and that they assign a high gain probability to any players who happens to be dominating the match (consistent with the representativeness bias). Several lucrative betting strategies were found, which puts in check the efficiency of the reviewed betting market.

Idioma: Português

Tipo (Avaliação Docente): Científica

Nº de páginas: 14