With the September 10, 2013, announcement of the short list for England’s most prestigious literary award, the Man Booker Prize, there’s much buzz about how to place a winning bet on the outcome, writes The Atlantic.
The magazine turns for comment to Dartmouth’s Eric Zitzewitz, who says there are drawbacks to relying on betting odds to predict the winner.
Zitzewitz, a professor of economics, tells the magazine that the “biggest difference between a market on prizes like the Man Booker or the Nobels and markets on sporting events is the amount of data everyone has to work with. There is so much repetition in sports that analysts can work out pretty well … the probability of the Rex Sox beating the Yankees on a given night.”
Read the full story, published 9/10/13 by The Atlantic.