Igan, Deniz; Pinheiro, Marcelo; Smith, John - In: Journal of Economic Behavior & Organization 113 (2015) C, pp. 13-25
We identify a largely efficient market in which there is a relationship between race and market outcomes. Examining data on NBA games, we find that teams with more black players tend to face larger point spreads and that these teams perform worse against the spread. These biased outcomes are...