Title

Revisiting the Streaking Teams Phenomenom: A Note

Department

Economics, Finance, & Quantitative Analysis

Document Type

Article

Publication Date

1-2003

Abstract

In an effort to learn if systematic misperceptions by market participants can undermine efficient prices and create regular profit opportunities, Camerer (1989) and Brown and Sauer (1993) investigated whether participants in the basketball-betting market overbet streaking (or "hot") teams. The purpose of this note is determine whether streaking teams - both hot and cold-in college football alter point spreads to an exploitable degree. The pointwise outcomes of college football teams following 2-, 3-, 4-, 5-, 6-, 7-, 8-, and 9-game streaks during the 1996-2000 seasons. Streaks in the aggregate produced only breakeven results when used to predict the outcomes of wagers on college football games.

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