The movement between the opening and closing of betting lines on sports events has been shown to contain valuable information. The purpose of this study is to search for the source of this valuable information. Changes in college football betting lines are examined with respect to information...

We test whether corruption is widespread in NCAA basketball by examining scoring patterns in games involving suspected point shavers. If conspiracy occurs frequently, then we should find that strong favorites score fewer points and/or allow more points than expected. However, findings reveal...

We adopt a power law framework to measure the concentration of daily trading among the different stocks on the US market. Our analysis of the trends of daily concentration over the last five decades reveals that trading concentration is lower on Mondays and the day after a long weekend. These...

Neoclassical investment decision criteria suggest that only the systematic component of total risk affects the rate of investment, as channeled through the built-asset price. Alternatively, option-based investment models suggest a direct role for total uncertainty in investment decisionmaking....

This paper empirically examines the relationship between uncertainty and investment using commercial real estate data. To sort out long-versus short-run effects of asset volatility on investment decisions, we extend the standard real options model to determine the probability of investment over...

Neoclassical investment decision criteria suggest that only the systematic component of total uncertainty affects the rate of investment, as channeled through built asset price. Alternatively, option-based investment models suggest a direct role for total uncertainty in investment decision...