Testing Market Efficiency: Evidence from American NFL and NBA Sport Gambling Market

• Main Authors: Tien-Chun Wang, 王天均
• Other Authors: 謝德宗
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/63969292947282907699

碩士 === 國立臺灣大學 === 經濟學研究所 === 100 === Market efficiency is always the emphasis for economist. Efficient market hypothesis is the fundamental theory for market efficiency. But some economist’s research point out that there are some inefficiency in the market. Sport gambling markets offer a great market condition for testing market efficiency. This paper is aimed to clarify if the market condition was improved, whether the market efficiency can be improved, too. As a result of the developing of internet, information transformation is highly enhanced. The cost of getting information is lower than before. The sport gambling markets are influenced by internet. This paper tries to use sport gambling markets for testing the impact from internet and how it affects the sport gambling market. Would it be an efficient market when the market inefficient friction was disappeared?