We study a cardinal model of voting with three alternatives where voters’ von Neumann Morgenstern utilities are private information. We consider voting protocols given by two-parameter scoring rules, as introduced by Myerson (2002). For these voting rules, we show that all symmetric Bayes Nash...

We conduct the first high-frequency comparison of pricing behaviour in betting markets making use of a novel dataset of prices from the UK's two largest bookmakers and the world's largest betting exchange. We investigate price competitiveness, finding that the betting exchange structure offers...

In an efficient market news is incorporated into prices rapidly and completely. Attempts to test for this in financial markets have been undermined by the possibility of information leakage unobserved by the econometrician. An alternative is to switch to laboratory conditions, at the price of...