Using data from the 2007, 2008, and 2009 National Association for Stock Car Auto Racing (NASCAR)
seasons, this article shows that the uncertainty of outcome hypothesis pertains to …

This paper provides empirical evidence that the favorite-longshot bias persists in money-line
betting markets of both college basketball and college football. This is the first clear …

We contribute to the literature on money line betting markets by investigating the relationships
between the various methods used to derive subjective win probabilities from money lines…

Using a large dataset of matches played between two publicly traded English football (soccer)
clubs, we test for and confirm an asymmetric market reaction to winning and losing and …

We focus on mutual fund characteristics associated with periods of extreme performance.
We find that funds with either positive (hot-hand) or negative (icy-hand) persistence tend to …

Portfolio managers have long sought the ability to increase diversification and hedge market
downturns without sacrificing upside returns. Using volatility as a diversifying asset is an …

In this paper, we test whether accuracy in the wagering markets for NCAA Division I men׳s
basketball improves when there are more betting lines available for a given game. The …

Wolfers (2006) was the first to document that heavy favorites in college basketball win but
fail to cover the pre‐game point spread at a statistically higher rate than expected. We …

In this note, we comment on a recent paper in the journal that proposes a new normalization
procedure when con-verting tennis betting odds to the implied probabilities of each player …

Using data from the 2007, 2008, and 2009 NASCAR seasons, this paper shows that the
uncertainty of outcome hypothesis pertains to both race attendance and television audience, …