Article ID Journal Published Year Pages File Type
9549283 Economics Letters 2005 6 Pages PDF
Abstract
By employing the wild bootstrap we calculate the 'correct' size of the relevant test statistics for the test of the null hypothesis of efficiency in betting markets. Our findings are that the overall conclusion of the rejection of the null hypothesis is still valid.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Testing for market efficiency in gambling markets when the errors are non-normal and heteroskedastic an application of the wild bootstrap
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