Suhonen, Niko; Saastamoinen, Jani, Kainulainen; Tuomo; Forrest, David (Elsevier BV, 2018)
Noise trader models suggest that ‘smart money’ profits from uninformed speculators. This paper investigates how rates of return are associated with the timing of a bet and the amount staked in a pari-mutuel horse betting ...
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