Handbooks in Finance ~ HANDBOOK of m SPORTS and - LOTTERY MARKETS / Donald B. Hausch William T. Ziemba /MiEditors + ^ North-Holland HANDBOOK OF SPORTS AND LOTTERY MARKETS HANDBOOKS IN FINANCE Series Editor WILLIAM T. ZIEMBA Advisory Editors KENNETH J. ARROW GEORGE C. CONSTANTINIDES B. ESPEN ECKBO HARRY M. MARKOWITZ ROBERT C. MERTON STEWART C. MYERS PAUL A. SAMUELSON WILLIAM F. SHARPE , '1 CSS AMSTERDAM • BOSTON • HEIDELBERG • LONDON NEW YORK • OXFORD • PARIS • SAN DIEGO m • • • SAN FRANCISCO SINGAPORE SYDNEY TOKYO A m ELSEVIER North-Holland is an imprint of Elsevier HANDBOOK OF SPORTS AND LOTTERY MARKETS Edited by Donald B. Hausch University of Wisconsin, Madison William T. Ziemba University of British Columbia Oxford University University of Reading m AMSTERDAM • BOSTON • HEIDELBERG • LONDON NEW YORK • OXFORD • PARIS • SAN DIEGO «s SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO ELSEVIER North-Holland is an imprint of Elsevier II North-Holland is an imprint of Elsevier Radarweg 29, PO Box 211, 1000 AE Amsterdam, The Netherlands Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA 525 B Street, Suite 1900, San Diego, California 92101-4495, USA Copyright c 2008, Elsevier B.V. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including recording, photocopying, or otherwise, without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone (+44) (0) 1865 843830; fax (+44) (0) 1865 853333; email:
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