In this paper we provide an empirical analysis of German casino locations. Due to the "mercantilistic background" of casinos, we assume that casinos are more likely to be found at borders and tourist areas. Although the location decision has been made in the past, we use cross-sectional data at...

Betting markets have been frequently used as a natural laboratory to test the efficient market hypothesis and to obtain insights especially for financial markets. We add to this literature in analyzing the velocity and accuracy in which market expectations adapt to an exogenous shock: the...