A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.Contents:Psychological StudiesUtility Preferences of Racetrack BettorsEconomic and Mathematical InsightsEfficiency of Win Markets and the Favorite-Longshot BiasPrices versus Handicapping: Place and Show AnomaliesEfficiency of Exotic Wagering MarketsResearch in the Commonwealth and AsiaReadership: Postdoctoral and graduate students, researchers, academics, and professionals interested in racetrack betting.