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  1. Betting market efficiency in the presence of unfamiliar shocks
    the case of ghost games during the COVID-19 pandemic
    Autor*in: Fischer, Kai; Haucap, Justus
    Erschienen: August 2020
    Verlag:  Heinrich-Heine-University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE), Düsseldorf, Germany

    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... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 256
    Fernleihe:
    keine Fernleihe

     

    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 introduction of soccer ghost games during the COVID-19 pandemic. We find that betting odds do not properly reflect the effect of ghost games regarding changes in home advantage. Furthermore, we present evidence for a slow to non-existing adaption process with respect to new match results, indicating a lack of semi-strong efficiency. Based on these findings, we also identify very simple but highly profitable betting strategies which underline our rejection of the efficient market hypothesis.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9783863043483
    Weitere Identifier:
    hdl: 10419/222982
    Schriftenreihe: Discussion paper / Düsseldorf Institute for Competition Economics (DICE) ; no 349
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen