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dc.contributor.advisorRehbeck, John
dc.creatorWilliams, Alexander
dc.date.accessioned2021-08-09T13:25:33Z
dc.date.available2021-08-09T13:25:33Z
dc.date.issued2021-08
dc.identifier.urihttp://hdl.handle.net/1811/92881
dc.description.abstractFootball pointspread betting permits unusually direct examination of market behavior compared to traditional asset markets. We present analysis of the pointspread market as a proxy for testing efficiency and rational expectations in other financial markets. This paper proposes novel statistical and economic tests to empirically appraise the rationality and efficiency of the National Football League pointspread gambling market. Econometric analysis of a 2012-2019 sample reveals several biased trends in pointspreads and deviations from rational expectations but fails to give evidence against efficiency. These results indicate that rational expectations might not be necessary for markets to retain long-run efficiency and suggest potential compatibility between decision models incorporating bounded rationality and those which assume neoclassical market efficiency.en_US
dc.language.isoen_USen_US
dc.publisherThe Ohio State Universityen_US
dc.relation.ispartofseriesThe Ohio State University. Department of Economics Undergraduate Research Theses; 2021en_US
dc.subjectEfficient Markets Hypothesisen_US
dc.subjectrational expectationsen_US
dc.subjectpointspreaden_US
dc.subjectAmerican footballen_US
dc.subjectirrationalityen_US
dc.titleRationality and Efficiency in NFL Gambling Marketsen_US
dc.typeThesisen_US
dc.description.embargoNo embargoen_US
dc.description.academicmajorAcademic Major: Economicsen_US


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