In an efficient market news is incorporated into prices rapidly and completely. Attempts to test for this in financial markets have been undermined by the possibility of information leakage unobserved by the econometrician. An alternative is to switch to laboratory conditions, at the price of...

We conduct the first high-frequency comparison of pricing behaviour in betting markets making use of a novel dataset of prices from the UK's two largest bookmakers and the world's largest betting exchange. We investigate price competitiveness, finding that the betting exchange structure offers...

Our case study starts by describing the Sermo business model, the knowledge application, company financials, and potential indicators of success. Second, we examine the metrics behind the performance of Sermo and the challenges faced by its model. Third, we extend our inquiry to consider how...