In a previous paper (Management Science, December 1981) Hausch, Ziemba and Rubinstein (HZR) developed a system that demonstrated the existence of a weak market inefficiency in racetrack place and show betting pools. The system appeared to make possible substantial positive profits. To make the...

Many racetrack bettors have systems. Since the track is a market similar in many ways to the stock market one would expect that the basic strategies would be either fundamental or technical in nature. Fundamental strategies utilize past data available from racing forms, special sources, etc. to...

Would a seller prefer to sell multiple objects through sequential or simultaneous auctions? Sequential auctions with bids announced between sales seem preferable because the bids may convey information about the value of objects to be sold later. The auction literature shows that this...