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That is not how I read it at all. To me, it reads as "there are likely many reasons these markets aren't operating efficiently". The time value of money and f
by caf 3y ago
That is not how I read it at all. To me, it reads as "there are likely many reasons these markets aren't operating efficiently".
The time value of money and fees certainly are part of it, but they don't explain things like, for example, the weight of money in the Trump-by-280+-EV contract.
- ummonk 3y agoThe point (which the author misses) is that irrational actors (such as those putting money in Trump winning by 280+) wouldn't significantly distort market odds if the market weren't severely crippled by so many restrictions and fees.