quasi in rem

Thursday, March 11, 2004

More on tradesports

Maybe someone can explain this to me, because I am not entirely clear on it. The way I understand the odds at tradesports is that they are entirely set by user interaction. In other words the Bid and Ask prices are set by the lowest prices of the available contracts to sell, like the stock market. However there is a huge disparity on some of the odds. For example, on the VP race, the Bid price for Graham is at 1.6, but the ask is at 50.1. If I think that Graham will be the V.P. what does this mean?

Contract B Qty Bid Ask A Qty Last Vol Chge
DEM04.VP.EDWARDS 50 28.6 33.0 100 31.0 3917 0
DEM04.VP.CLARK 100 10.0 11.0 100 11.0 994 0
DEM04.VP.GRAHAM 1 1.6 50.1 1 3.0 698 0
DEM04.VP.CLINTON 93 4.7 5.9 1 6.0 813 0
DEM04.VP.GEPHARDT 110 8.0 13.0 35 10.1 931 0
DEM04.VP.RICHARDSON 40 10.0 13.0 100 12.0 968 0
DEM04.VP.BAYH 100 4.0 9.0 72 8.0 605 0
DEM04.VP.BIDEN 0 - 0.9 2 0.5 100 0
DEM04.VP.FEINSTEIN 100 0.1 0.9 3 0.5 5 0
DEM04.VP.GORE 100 1.5 1.9 2 1.5 525 0
DEM04.VP.DEAN 4 0.1 0.9 2 0.1 21 0
DEM04.VP.BREAUX 9 1.0 1.9 2 1.5 211 0
DEM04.VP.ROCKEFELLER 100 0.1 1.9 1 0.5 0 0
DEM04.VP.NELSON 20 2.5 4.4 2 3.0 435 0
DEM04.VP.FIELD 5 18.5 29.0 100 21.0 1304 0

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