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Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted

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Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted. / Cain, M.; Law, D.; Peel, David.
In: Journal of Forecasting, Vol. 19, No. 7, 12.2000, p. 575-586.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

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Cain M, Law D, Peel D. Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted. Journal of Forecasting. 2000 Dec;19(7):575-586. doi: 10.1002/1099-131X(200012)19:7<575::AID-FOR765>3.0.CO;2-U

Author

Cain, M. ; Law, D. ; Peel, David. / Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted. In: Journal of Forecasting. 2000 ; Vol. 19, No. 7. pp. 575-586.

Bibtex

@article{2d1fbb0895a64682b64d02773db9482c,
title = "Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted",
abstract = "This paper examines the efficiency of the National Football League (NFL) betting market. Previous econometric work on the subject has been based on least squares estimators, and has been marred by non-normal errors, which have cast doubt on standard hypothesis testing procedures. It is found that the negative binomial distribution provides a good description of points scored in NFL football games, but no significant departures from market efficiency were discovered.",
author = "M. Cain and D. Law and David Peel",
year = "2000",
month = dec,
doi = "10.1002/1099-131X(200012)19:7<575::AID-FOR765>3.0.CO;2-U",
language = "English",
volume = "19",
pages = "575--586",
journal = "Journal of Forecasting",
issn = "0277-6693",
publisher = "John Wiley and Sons Ltd",
number = "7",

}

RIS

TY - JOUR

T1 - Testing for statistical and market efficiency when forecast errors are non-normal: the NFL betting market revisted

AU - Cain, M.

AU - Law, D.

AU - Peel, David

PY - 2000/12

Y1 - 2000/12

N2 - This paper examines the efficiency of the National Football League (NFL) betting market. Previous econometric work on the subject has been based on least squares estimators, and has been marred by non-normal errors, which have cast doubt on standard hypothesis testing procedures. It is found that the negative binomial distribution provides a good description of points scored in NFL football games, but no significant departures from market efficiency were discovered.

AB - This paper examines the efficiency of the National Football League (NFL) betting market. Previous econometric work on the subject has been based on least squares estimators, and has been marred by non-normal errors, which have cast doubt on standard hypothesis testing procedures. It is found that the negative binomial distribution provides a good description of points scored in NFL football games, but no significant departures from market efficiency were discovered.

U2 - 10.1002/1099-131X(200012)19:7<575::AID-FOR765>3.0.CO;2-U

DO - 10.1002/1099-131X(200012)19:7<575::AID-FOR765>3.0.CO;2-U

M3 - Journal article

VL - 19

SP - 575

EP - 586

JO - Journal of Forecasting

JF - Journal of Forecasting

SN - 0277-6693

IS - 7

ER -