Handbook of Sports and Lottery Markets

Handbook of Sports and Lottery Markets
Author: Donald B. Hausch,W.T. Ziemba
Publsiher: Elsevier
Total Pages: 560
Release: 2011-08-11
ISBN: 9780080559957
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Sports and Lottery Markets Book Excerpt:

Its basic empirical research and investigation of pure theories of investment in the sports and lottery markets make this volume a winner. These markets are simpler to study than traditional financial markets, and their expected values and outcomes are uncomplicated. By means of new overviews of scholarship on the industry side of racetrack and other betting markets to betting exchanges and market efficiencies, contributors consider a variety of sports in countries around the world. The result is not only superior information about market forecasting, but macro- and micro-analyses that are relevant to other markets. * Easily studied sports markets reveal features relevant for more complex traditional financial markets * Significant coverage of sports from racing to jai alai * New studies of betting exchanges and Internet wagering markets

Stochastic Programming

Stochastic Programming
Author: Horand Gassmann,W. T. Ziemba
Publsiher: World Scientific
Total Pages: 518
Release: 2013
ISBN: 981440750X
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Stochastic Programming Book Excerpt:

This book shows the breadth and depth of stochastic programming applications. All the papers presented here involve optimization over the scenarios that represent possible future outcomes of the uncertainty problems. The applications, which were presented at the 12th International Conference on Stochastic Programming held in Halifax, Nova Scotia in August 2010, span the rich field of uses of these models. The finance papers discuss such diverse problems as longevity risk management of individual investors, personal financial planning, intertemporal surplus management, asset management with benchmarks, dynamic portfolio management, fixed income immunization and racetrack betting. The production and logistics papers discuss natural gas infrastructure design, farming Atlantic salmon, prevention of nuclear smuggling and sawmill planning. The energy papers involve electricity production planning, hydroelectric reservoir operations and power generation planning for liquid natural gas plants. Finally, two telecommunication papers discuss mobile network design and frequency assignment problems.

Efficiency of Racetrack Betting Markets

Efficiency of Racetrack Betting Markets
Author: Donald B. Hausch,Victor S. Y. Lo,W. T. Ziemba
Publsiher: World Scientific
Total Pages: 648
Release: 2008
ISBN: 9812819193
Category: Games & Activities
Language: EN, FR, DE, ES & NL

Efficiency of Racetrack Betting Markets Book Excerpt:

A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.

Calendar Anomalies and Arbitrage

Calendar Anomalies and Arbitrage
Author: W. T. Ziemba
Publsiher: World Scientific
Total Pages: 586
Release: 2012
ISBN: 9814405450
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Calendar Anomalies and Arbitrage Book Excerpt:

This book discusses calendar or seasonal anomalies in worldwide equity markets as well as arbitrage and risk' arbitrage. A complete update of US anomalies such as the January turn-of-the year, turn-of-the-month. January barometer, sell in May and go away, holidays, days of the week, options expiry and other effects is given concentrating in the futures markets where these anomalies can be easily applied. Other effects that lend themselves to modified buy and hold cash strategies include some of these as well as presidential election, factor models based on fundamental anomalies and other effects. The ideas have been used successfully by the author in personal and managed accounts and hedge funds. Book jacket.

Exotic Betting At The Racetrack

Exotic Betting At The Racetrack
Author: William T Ziemba
Publsiher: World Scientific
Total Pages: 488
Release: 2018-12-21
ISBN: 9813278803
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Exotic Betting At The Racetrack Book Excerpt:

Exotic Betting at the Racetrack is unique as it covers the efficient-inefficient strategy to price and find profitable racetrack bets, along with handicapping that provides actual bets made by the author on essentially all of the major wagers offered at US racetracks. The book starts with efficiency, accuracy of the win odds, arbitrage, and optimal betting strategies. Examples and actual bets are shown for various wagers including win, place and show, exacta, quinella, double, trifecta, superfecta, Pick 3, 4 and 6 and rainbow pick 5 and 6. There are discussions of major races including the Breeders' Cup, Pegasus, Dubai World Cup and the US Triple Crown from 2012-2018. Dosage analysis is also described and used. An additional feature concerns great horses such as the great mares Rachel Alexandra, Zenyatta, Goldikova, Treve, Beholder and Song Bird. There is a discussion of horse ownership and a tour through arguably the world's top trainer Frederico Tesio and his stables and horses in Italy.Related Link(s)

The Oxford Handbook of the Economics of Gambling

The Oxford Handbook of the Economics of Gambling
Author: Leighton Vaughan Williams,Donald S. Siegel
Publsiher: Oxford University Press
Total Pages: 719
Release: 2013
ISBN: 0199797919
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Oxford Handbook of the Economics of Gambling Book Excerpt:

This handbook is a definitive source of path-breaking research on the economics of gambling. It is divided into sections on casinos, sports betting, horserace betting, betting strategy motivation, behaviour and decision-making in betting markets prediction markets and political betting, and lotteries and gambling machines.

The Adventures Of A Modern Renaissance Academic In Investing And Gambling

The Adventures Of A Modern Renaissance Academic In Investing And Gambling
Author: Ziemba William T
Publsiher: World Scientific
Total Pages: 484
Release: 2017-08-23
ISBN: 9813148535
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Adventures Of A Modern Renaissance Academic In Investing And Gambling Book Excerpt:

The Economics of Sports Betting

The Economics of Sports Betting
Author: Plácido Rodríguez,Brad R. Humphreys,Robert Simmons
Publsiher: Edward Elgar Publishing
Total Pages: 135
Release: 2022
ISBN: 1785364553
Category: Electronic Book
Language: EN, FR, DE, ES & NL

The Economics of Sports Betting Book Excerpt:

This unique book delves into a number of intriguing issues and addresses several pertinent questions including, should gambling markets be privatized? Is the ‘hot hand’ hypothesis real or a myth? Are the ‘many’ smarter than the ‘few’ in estimating betting odds? How are prices set in fixed odds betting markets? The book also explores the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports.

Handbook of Economic Forecasting

Handbook of Economic Forecasting
Author: Graham Elliott,Allan Timmermann
Publsiher: Elsevier
Total Pages: 1016
Release: 2013-10-24
ISBN: 0444627413
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Economic Forecasting Book Excerpt:

The highly prized ability to make financial plans with some certainty about the future comes from the core fields of economics. In recent years the availability of more data, analytical tools of greater precision, and ex post studies of business decisions have increased demand for information about economic forecasting. Volumes 2A and 2B, which follows Nobel laureate Clive Granger's Volume 1 (2006), concentrate on two major subjects. Volume 2A covers innovations in methodologies, specifically macroforecasting and forecasting financial variables. Volume 2B investigates commercial applications, with sections on forecasters' objectives and methodologies. Experts provide surveys of a large range of literature scattered across applied and theoretical statistics journals as well as econometrics and empirical economics journals. The Handbook of Economic Forecasting Volumes 2A and 2B provide a unique compilation of chapters giving a coherent overview of forecasting theory and applications in one place and with up-to-date accounts of all major conceptual issues. Focuses on innovation in economic forecasting via industry applications Presents coherent summaries of subjects in economic forecasting that stretch from methodologies to applications Makes details about economic forecasting accessible to scholars in fields outside economics

Sports Analytics

Sports Analytics
Author: Leonard C Maclean,William T Ziemba
Publsiher: World Scientific
Total Pages: 588
Release: 2021-12-22
ISBN: 9811250227
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Sports Analytics Book Excerpt:

This book is a collection of applications of analytic techniques to a number of popular sports including baseball, basketball, hockey, Jai Alai, NFL football and horseracing. We focus on both the statistics of the sporting events and betting strategies on the events. The subject is fascinating as there are many twists and subtle complicated decisions.Sports analytics applies mathematical and statistical methods to important questions in the structure and performance of sporting activities using the same basic methods and approaches as data analysts in other disciplines.Sports games and events are a fruitful area for study and to evaluate betting strategies as there is extensive data and mean reversion. With prices changing continuously, risk arbitrage bets can be made. Moreover, little errors, like a penalty to a player or an error in a call by a referee, can change the score of a game and corresponding betting prices. The collection and analysis of in-game data can inform players, coaches and staff on effective decision making during sporting events.Novel features of the book include: an analysis of who were the greatest baseball batters; analyses of the players most important to team success (and they are not necessarily the best players) in basketball, NFL football and hockey; a tutorial on risk arbitrage and its applications to NFL football and NBA basketball; a discussion of many ad hoc decision rules by coaches and players and what was really optimal; in the racing section we discuss breeding, the analysis of various bets like the Rainbow and ordinary Pick 6, a discussion and betting on the most important races and a visit to the Breeders' Cup with Ed Thorp to demonstrate the place and show system in action.

Investing in the Modern Age

Investing in the Modern Age
Author: Rachel Ziemba,W. T. Ziemba
Publsiher: World Scientific
Total Pages: 563
Release: 2013
ISBN: 9814504750
Category: Electronic books
Language: EN, FR, DE, ES & NL

Investing in the Modern Age Book Excerpt:

This book discusses many key topics in investment and risk management, the global economic situation and the shift in global investment strategies. It was largely written during the period of 2007-12, one of the most tumultuous times in global financial markets which called into question not only tenets of economic forecasting and also asset allocation and return strategies. It contains studies of how investors lose money in derivative markets, examples of those who did not and how these disasters could have been prevented. The authors draw some conclusions on the impact of the structural shifts currently underway in the global economy as well as how cyclical trends will affect these industries, the globe and key sectors. The authors zoom in on key growth areas, including emerging markets, their interlinkages and financial trends. The book also covers risk arbitrage and mean reversion strategies in financial and sports betting markets, plus incentives, volatility aspects, risk taking and investments strategies used by hedge funds and university endowments. Topics such as stock market crash predictions, asset liability planning models, various players in financial markets and the evaluation of the greatest investors are also discussed. The book presents tools and case studies of real applications for analyzing a wide variety of investment returns and better assessing the risks which many investors have preferred to ignore in the search of returns. Many security market regularities or anomalies are discussed including political party and January effects as is the process of building scenarios and using Kelly and fractional Kelly strategies to optimize returns.

Dr Z s Nfl Guidebook

Dr Z s Nfl Guidebook
Author: Ziemba William T,Maclean Leonard C
Publsiher: World Scientific
Total Pages: 368
Release: 2018-09-07
ISBN: 9813276517
Category: Sports & Recreation
Language: EN, FR, DE, ES & NL

Dr Z s Nfl Guidebook Book Excerpt:

This guidebook presents historical and new material to assist the reader to understand NFL game strategies and provides a winning betting strategy. The authors, William Ziemba and Leonard MacLean are professors, traders, financial analysts and sports enthusiasts. They covered ideas like the game's strategies, and shared their wealth of personal experience analyzing the regular season, the playoffs and the Super Bowls in the years 2010-2017. The results of their actual betting for the 2009-10 to the 2017-18 seasons are provided. The authors concluded the book with a forecast for the 2018-2019 season. They determine the players most valuable to win the games, discuss crucial decisions and provide prediction methodology. The authors concluded with a forecast of the top teams, players and odds to win the 53rd Super Bowl.

Handbook of Portfolio Construction

Handbook of Portfolio Construction
Author: John B. Guerard, Jr.
Publsiher: Springer Science & Business Media
Total Pages: 794
Release: 2009-12-12
ISBN: 0387774394
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Portfolio Construction Book Excerpt:

Portfolio construction is fundamental to the investment management process. In the 1950s, Harry Markowitz demonstrated the benefits of efficient diversification by formulating a mathematical program for generating the "efficient frontier" to summarize optimal trade-offs between expected return and risk. The Markowitz framework continues to be used as a basis for both practical portfolio construction and emerging research in financial economics. Such concepts as the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT), for example, provide the foundation for setting benchmarks, for predicting returns and risk, and for performance measurement. This volume showcases original essays by some of today’s most prominent academics and practitioners in the field on the contemporary application of Markowitz techniques. Covering a wide spectrum of topics, including portfolio selection, data mining tests, and multi-factor risk models, the book presents a comprehensive approach to portfolio construction tools, models, frameworks, and analyses, with both practical and theoretical implications.

Prediction Markets

Prediction Markets
Author: Leighton Vaughan Williams
Publsiher: Routledge
Total Pages: 288
Release: 2011-05-15
ISBN: 113671569X
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Prediction Markets Book Excerpt:

How does one effectively aggregate disparate pieces of information that are spread among many different individuals? In other words, how does one best access the ‘wisdom of the crowd’? Prediction markets, which are essentially speculative markets created for the purpose of aggregating information and making predictions, offer the answer to this question. The effective use of these markets has the potential not only to help forecast future events on a national and international level, but also to assist companies, for example, in providing improved estimates of the potential market size for a new product idea or the launch date of new products and services. The markets have already been used to forecast uncertain outcomes ranging from influenza to the spread of infectious diseases, to the demand for hospital services, to the box office success of movies, climate change, vote shares and election outcomes, to the probability of meeting project deadlines. The insights gained also have many potentially valuable applications for public policy more generally. These markets offer substantial promise as a tool of information aggregation as well as forecasting, whether alone or as a supplement to other mechanisms like opinion surveys, group deliberations, panels of experts and focus groups. Moreover, they can be applied at a macroeconomic and microeconomic level to yield information that is valuable for government and commercial policy-makers and which can be used for a number of social purposes. This volume of original readings, contributed by many of the leading experts in the field, marks a significant addition to the base of knowledge about this fascinating subject area. The book should be of interest to anyone looking at monetary economics, economic forecasting and microeconomics.

Probability Choice and Reason

Probability  Choice  and Reason
Author: Leighton Vaughan Williams
Publsiher: CRC Press
Total Pages: 310
Release: 2021-09-16
ISBN: 1000458946
Category: Mathematics
Language: EN, FR, DE, ES & NL

Probability Choice and Reason Book Excerpt:

Much of our thinking is flawed because it is based on faulty intuition. By using the framework and tools of probability and statistics, we can overcome this to provide solutions to many real-world problems and paradoxes. We show how to do this, and find answers that are frequently very contrary to what we might expect. Along the way, we venture into diverse realms and thought experiments which challenge the way that we see the world. Features: An insightful and engaging discussion of some of the key ideas of probabilistic and statistical thinking Many classic and novel problems, paradoxes, and puzzles An exploration of some of the big questions involving the use of choice and reason in an uncertain world The application of probability, statistics, and Bayesian methods to a wide range of subjects, including economics, finance, law, and medicine Exercises, references, and links for those wishing to cross-reference or to probe further Solutions to exercises at the end of the book This book should serve as an invaluable and fascinating resource for university, college, and high school students who wish to extend their reading, as well as for teachers and lecturers who want to liven up their courses while retaining academic rigour. It will also appeal to anyone who wishes to develop skills with numbers or has an interest in the many statistical and other paradoxes that permeate our lives. Indeed, anyone studying the sciences, social sciences, or humanities on a formal or informal basis will enjoy and benefit from this book.

Problems in Portfolio Theory and the Fundamentals of Financial Decision Making

Problems in Portfolio Theory and the Fundamentals of Financial Decision Making
Author: Leonard C MacLean,William T Ziemba
Publsiher: World Scientific Publishing Company
Total Pages: 212
Release: 2016-09-29
ISBN: 9814759368
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Problems in Portfolio Theory and the Fundamentals of Financial Decision Making Book Excerpt:

This book consists of invaluable introductions, tutorials and problems which are helpful for teaching purposes and have a very broad appeal and usage. The problems cover many aspects of static and dynamic portfolio theory as well as other important subjects such as arbitrage and asset pricing, utility theory, stochastic dominance, risk aversion and static portfolio theory, risk measures, dynamic portfolio theory and asset allocation. This material could be used with important books that cover these topics including MacLean-Ziemba's The Handbook of the Fundamentals of Financial Decision Making, and Ziemba-Vickson's Stochastic Optimization Models in Finance.

Collective Wisdom

Collective Wisdom
Author: Hélène Landemore,Jon Elster
Publsiher: Cambridge University Press
Total Pages: 135
Release: 2012-07-16
ISBN: 1139536451
Category: Political Science
Language: EN, FR, DE, ES & NL

Collective Wisdom Book Excerpt:

James Madison wrote, 'Had every Athenian citizen been a Socrates, every Athenian assembly would still have been a mob'. The contributors to this volume discuss and for the most part challenge this claim by considering conditions under which many minds can be wiser than one. With backgrounds in economics, cognitive science, political science, law and history, the authors consider information markets, the internet, jury debates, democratic deliberation and the use of diversity as mechanisms for improving collective decisions. At the same time, they consider voter irrationality and paradoxes of aggregation as possibly undermining the wisdom of groups. Implicitly or explicitly, the volume also offers guidance and warnings to institutional designers.

How Not to Be Wrong

How Not to Be Wrong
Author: Jordan Ellenberg
Publsiher: Penguin
Total Pages: 480
Release: 2014-05-29
ISBN: 0698163842
Category: Mathematics
Language: EN, FR, DE, ES & NL

How Not to Be Wrong Book Excerpt:

“Witty, compelling, and just plain fun to read . . ." —Evelyn Lamb, Scientific American The Freakonomics of math—a math-world superstar unveils the hidden beauty and logic of the world and puts its power in our hands The math we learn in school can seem like a dull set of rules, laid down by the ancients and not to be questioned. In How Not to Be Wrong, Jordan Ellenberg shows us how terribly limiting this view is: Math isn’t confined to abstract incidents that never occur in real life, but rather touches everything we do—the whole world is shot through with it. Math allows us to see the hidden structures underneath the messy and chaotic surface of our world. It’s a science of not being wrong, hammered out by centuries of hard work and argument. Armed with the tools of mathematics, we can see through to the true meaning of information we take for granted: How early should you get to the airport? What does “public opinion” really represent? Why do tall parents have shorter children? Who really won Florida in 2000? And how likely are you, really, to develop cancer? How Not to Be Wrong presents the surprising revelations behind all of these questions and many more, using the mathematician’s method of analyzing life and exposing the hard-won insights of the academic community to the layman—minus the jargon. Ellenberg chases mathematical threads through a vast range of time and space, from the everyday to the cosmic, encountering, among other things, baseball, Reaganomics, daring lottery schemes, Voltaire, the replicability crisis in psychology, Italian Renaissance painting, artificial languages, the development of non-Euclidean geometry, the coming obesity apocalypse, Antonin Scalia’s views on crime and punishment, the psychology of slime molds, what Facebook can and can’t figure out about you, and the existence of God. Ellenberg pulls from history as well as from the latest theoretical developments to provide those not trained in math with the knowledge they need. Math, as Ellenberg says, is “an atomic-powered prosthesis that you attach to your common sense, vastly multiplying its reach and strength.” With the tools of mathematics in hand, you can understand the world in a deeper, more meaningful way. How Not to Be Wrong will show you how.

The Handbook of Equity Market Anomalies

The Handbook of Equity Market Anomalies
Author: Leonard Zacks
Publsiher: John Wiley & Sons
Total Pages: 352
Release: 2011-08-24
ISBN: 1118127765
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Handbook of Equity Market Anomalies Book Excerpt:

Investment pioneer Len Zacks presents the latest academicresearch on how to beat the market using equity anomalies The Handbook of Equity Market Anomalies organizes andsummarizes research carried out by hundreds of finance andaccounting professors over the last twenty years to identify andmeasure equity market inefficiencies and provides self-directedindividual investors with a framework for incorporating the resultsof this research into their own investment processes. Edited by LenZacks, CEO of Zacks Investment Research, and written by leadingprofessors who have performed groundbreaking research on specificanomalies, this book succinctly summarizes the most importantanomalies that savvy investors have used for decades to beat themarket. Some of the anomalies addressed include the accrual anomaly, netstock anomalies, fundamental anomalies, estimate revisions, changesin and levels of broker recommendations, earnings-per-sharesurprises, insider trading, price momentum and technical analysis,value and size anomalies, and several seasonal anomalies. Thisreliable resource also provides insights on how to best use thevarious anomalies in both market neutral and in long investorportfolios. A treasure trove of investment research and wisdom, thebook will save you literally thousands of hours by distilling theessence of twenty years of academic research into eleven clearchapters and providing the framework and conviction to developmarket-beating strategies. Strips the academic jargon from the research and highlights theactual returns generated by the anomalies, and documented in theacademic literature Provides a theoretical framework within which to understand theconcepts of risk adjusted returns and market inefficiencies Anomalies are selected by Len Zacks, a pioneer in the field ofinvesting As the founder of Zacks Investment Research, Len Zacks pioneeredthe concept of the earnings-per-share surprise in 1982 anddeveloped the Zacks Rank, one of the first anomaly-based stockselection tools. Today, his firm manages U.S. equities forindividual and institutional investors and provides investmentsoftware and investment data to all types of investors. Now, withhis new book, he shows you what it takes to build a quant processto outperform an index based on academically documented marketinefficiencies and anomalies.

Quantitative Financial Risk Management

Quantitative Financial Risk Management
Author: Constantin Zopounidis,Emilios Galariotis
Publsiher: John Wiley & Sons
Total Pages: 448
Release: 2015-05-18
ISBN: 1118738187
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Quantitative Financial Risk Management Book Excerpt:

A Comprehensive Guide to Quantitative Financial Risk Management Written by an international team of experts in the field, Quantitative Financial Risk Management: Theory and Practice provides an invaluable guide to the most recent and innovative research on the topics of financial risk management, portfolio management, credit risk modeling, and worldwide financial markets. This comprehensive text reviews the tools and concepts of financial management that draw on the practices of economics, accounting, statistics, econometrics, mathematics, stochastic processes, and computer science and technology. Using the information found in Quantitative Financial Risk Management can help professionals to better manage, monitor, and measure risk, especially in today′s uncertain world of globalization, market volatility, and geo–political crisis. Quantitative Financial Risk Management delivers the information, tools, techniques, and most current research in the critical field of risk management. This text offers an essential guide for quantitative analysts, financial professionals, and academic scholars.