定价中的信息和准确性:来自NCAA男子篮球博彩市场的证据

Jason P. Berkowitz, C. Depken, J. Gandar
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引用次数: 7

摘要

在本文中,我们检验了当有更多的投注线可用于给定的比赛时,NCAA甲级男子篮球投注市场的准确性是否提高。经验证据表明,当提供金钱线时,它对边线的准确性没有影响,因为它是一种冗余证券,但提供总额线会影响边线的准确性。我们将此解释为总计线为不知情的投注者提供了额外信息的证据,从而提高了边线作为价格的准确性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Information and Accuracy in Pricing: Evidence from the NCAA Men’s Basketball Betting Market
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 empirical evidence indicates that when the money line is offered, it has no impact on the accuracy of the sides line as it is a redundant security, but the offering of the totals line impacts the accuracy of the sides line. We interpret this as evidence that the totals line provides additional information to uninformed bettors that improves the accuracy of the sides line in its role as a price.
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