Kacapyr, Elia - In: Journal of Prediction Markets 5 (2011) 1, pp. 1-11
This paper investigates stylized facts about pari-mutuel betting. Standardbred racing at The Meadowlands Racetrack on Friday and Saturday nights is analyzed to determine if bettors in this particular venue are efficient. In addition, adages concerning horse racing, such as the favorite wins 33...