Prof. Adi Schnytzer

Prof.
Prof. Adi Schnytzer
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Research interests: 
Comparative Economics, Gambling, Sportometrics, Behavioral Finance, Trade with Inside Info

CV

Tertiary Education:  
1969: Graduated B.Sc (Hon.) 19th April, Monash University Major Subject: Chemistry
Thesis : The Chemistry of Phosphinodithoic Acids
Supervisor : Dr. M.C. Fuller
1969: Completed first year of M. Admin., Monash University Credit was obtained for the following units: Introduction to Administrative Thought, Macroeconomic Analysis, Microeconomic Analysis, Labour Relations, Quantitative Methods, Accounting for Financial Control.
1973: Graduated M Ec. 4th May, Monash University Credit was obtained for the following units: Macroeconomic Theory, Microeconomic Theory, Advanced Operations Research, Mathematical Economics, Planning for Economic Development, Comparative Economic Systems, Price Theory, Special Reading Unit in Socialist Economics.
Thesis : The Role of Commodity-Money Relations in Socialism - The Albanian Case.
Supervisor : Dr. I.D.S. Ward
1973-1974 : M. Phil. candidate, London School of Economics Supervisor: Prof. P.J.D. Wiles
1974-1975 : B. Litt. candidate, Brasenose College, Oxford
1975-1977 : B. Litt. candidate, St. Antony's College, Oxford
1977 : D. Phil. candidate, St. Antony's College, Oxford
1978 : Graduated D. Phil. 4th March, Oxford University
Thesis : Economic Planning and Industrial Development in the People's Republic of Albania.
Supervisor: Mr. M.C. Kaser

 

Clubs and Societies:

1975-1976 : Chairman, St. Antony's College Chess Club Committee
1977 : President, Oxford University Cholent Society
1977-1978 : Supreme Epicurean, Oxford Epicurean Society

 

Appointments:

1969: Research Assistant (part-time), Economics Department, Monash University
1970: Teaching Fellow (part-time), Economics Department, Monash University
1971-1973 : Senior Teaching Fellow, Economics Department, Monash University Subjects taught: Statistics, Macroeconomics, Microeconomics, Comparative Economic Systems
1976-1981 : Consultant, East European Economic History Project, St. Antony's College, Oxford
1977 : Consultant, Abstracting Service for Soviet and East European Studies
1978-1980 : Lecturer in Economics, School of Social Science, Deakin University, Victoria Subjects taught: The Industrial Revolution, Economics of Inflation, Microeconomics, Conflict Management
1980-1983 : Lecturer in Economics, School of Social and Industrial Administration, Griffith University, Queensland
1983-1985 : Senior Lecturer in Economics
1982-1985 : Coordinator, Economics Area Subjects taught: Administrative Processes, Work and Organisations, Comparative Organisational Analysis, Australia in the World Economy, Socio-Economic Problems of Australia, The Role of Planning in Contemporary Economic Development, The Theory of International Trade and Economic Growth, Multinational Organisations and the International Economic Environment
1982: Consultant, Abstracting Service for Soviet and East European Studies
1985-1997: Senior Lecturer, Department of Economics, Bar-Ilan University, Ramat-Gan, Israel
1997-Present : Associate Professor, Department of Economics, Bar-Ilan University, Ramat-Gan, Israel Subjects taught: Econometrics, Applied Economics, Comparative Economic Systems, Economics of Planning, Public Economics, Game Theory, Mathematics, Research Topics in the Israeli Economy, The Economics of Transition.
Nov. 1988 : Visiting Professor, Karl Marx University, Budapest.
1989 : Consultant, Institute for Advanced Strategic and Political Studies, Jerusalem.
1990-1991 : Visiting Scholar, Graduate School of Business, University of Chicago.
Aug. - Sept. 1991 : Visiting Professor, Centre for Soviet and East European Studies, University of Melbourne.
July - Oct. 1995 : Visiting Professor, Department of Economics, La Trobe University, Melbourne
1997-2003: Editor, IB Review, Institute of Macroeconomic Analysis and Development, Ljubljana, Slovenia.
2007 - Present: Editor, The Journal of Gambling Business and Economics.
2008 - 2009: Visiting Associate Professor, Department of Economics, University of Melbourne.
2008 - Present: Visiting Research Professor, Faculty of Applied Social Studies (FASS), Nova Gorica, Slovenia.

 

Publications

PUBLICATIONS:

1. "Planning and Management", in "Albania - A Uniquely Socialist Economy", East European Economies Post-Helsinki, 1977, U.S. Congress Joint Economic Committee, Washington.

2. "The Development of Industry", in "Albania - A Uniquely Socialist Economy", East European Economies Post-Helsinki, 1977, U.S. Congress Joint Economic Committee, Washington.

3. "The Context of Economic Development", in "Albania - A Uniquely Socialist Economy", (with M.C. Kaser), East European Economies Post-Helsinki, 1977, U.S. Congress Joint Economic Committee, Washington.

4. "Albania" in G. Seidenstecher and H.H. Hohmann (eds.), (with M.C. Kaser), Zeile und Methoden der Wirtschaftspolitik in Osteuropa 1970-76, 1978, Cologne.

5. "China and the Soviet Union as Major Trading Partners - The Impact of Aid on Albanian Industrial Development", Compendium on the Chinese Economy, 1978, U.S. Congress Joint Economic Committee, Washington.

6. "Factors Influencing Trade with the West: Albania, Mongolia, North Korea and Vietnam", in Z.M. Fallenbuchl and C.H. McMillan, eds., Partners in East-West Economic Relations - The Determinants of Choice, 1980, Pergamon Press, New York.

7. "Mitbestimmung in Albanien", in H.H. Hohmann, ed., Mitbestimmung in Osteuropa, 1981, Studiengesellschaft fur Zeitprobleme, Cologne.

8. "The Impact of the Sino-Albanian Split on the Albanian Economy", East European Economic Assessment, 1981, U.S. Congress Joint Economic Committee, Washington.

9. "The Economics System of Albania in the 1970's: Developments and Problems", in A. Nove et al. eds., (with M.C. Kaser), The East European Economies in the Seventies, 1981, London.

10. "The Socialist People's Republic of Albania", in P.J.D. Wiles, ed., The New Communist Third World, 1982, Croom Helm, London.

11. "The Socialist Republic of Vietnam", in P.J.D. Wiles ed., The New Communist Third World, 1982, Croom Helm, London.

12. "The Mongolian People's Republic", (with A. Smith), in P.J.D. Wiles, ed., The New Communist Third World, 1982, Croom Helm, London.

13. Stalinist Economy Strategy in Practice, 1982, Oxford University Press, Oxford.

14. "Establishing Tourist Resorts in Australia: A Method of Feasibility Study", (with L.V. DeFris and P. Doilibi), Journal of Economic Activity, 1982, December.

15. "Albanian", in H. Hohmann, ed., (with M.C. Kaser), Die Wirtschaft Osteuropas und der VR China zu Beginn der achtziger Jahre, 1983, Stuttgart.

16. "The Economic Situation in Kosova: Notes on a Comparison with Albania's Economy", in A. Pipa and S. Repishti, eds., Studies on Kosova, 1984, New York.

17. "Illegal Economic Activities and Purges in a Soviet-type Economy: A Rent-Seeking Perspective", (with A. L. Hillman), International Review of Law and Economics, 1986, 6.

18. "Egalitarianism and Equilibrium Output in Producer Cooperatives", (with S. Nitzan), Economics Letters, 1987, 24.

19. "Diligence and Laziness in the Chinese Countryside Revisited", (with S. Nitzan), Journal of Development Economics, 1987, 26.

20. "Strategic Work Interactions and the Kibbutz-Kolkhoz Paradox", (with J.M. Guttman), Economic Journal, 1989, 99.

21. "The Israeli Economic System: Overview and Comparative Analysis", paper delivered at Symposium on American-Israeli Relations, 1990, New York.

22. "Socialism in Less than One Country", in A.L. Hillman ed., Markets and Politicians: Politicized Economic Choice, 1991, Boston.

23. "Implementing the Lindahl Voluntary Exchange Mechanism", (with L. Danziger), in European Journal of Political Economy, 1991, 7.

24. "Albania: The Purge of Stalinist Economic Ideology", in I. Jeffries ed., Industrial Reform in Socialist Countries, 1992, London.

25. "A Solution of the Externality Problem Using Strategic Matching", (with J.M. Guttman), Social Choice and Welfare, 1992, 8.

26. "Creating the Dependant Reform-Resistant Economy - Socialist Comparative Advantage, Enterprise Incentives and the CMEA", in A.L. Hillman and Milanovic, B., eds., (with A.L. Hillman), The Transition from Socialism in Eastern Europe: Domestic Restructuring and Foreign Trade, 1992, World Bank, Washington.

27. "The Failure of Supply Response in Transition: A Market-Based Explanation", (with A. Weiss), Economic Systems, 1992, 16.

28. "Industry", in Grothusen, K.D. ed., Handbook on South-Eastern Europe Volume VII: Albania, 1993, G?ttingen.

29. "Risk, Leisure Preference and the Collective Farm in Transition", in C. Csaki and Kislev,. eds., (with J. Machnes), Agricultural Cooperatives in Transition, 1993, Westview Press, Boulder.

30. "Political Considerations in Government Grants to Municipalities in Israel", (with S. Rosevitch and A. Weiss), Economic Quarterly (in Hebrew), 1993, 40, No. 2 .

31. "The Economics of the Peaceful Revolution: Freedom as a Public Good", Public Choice, 1994, 79.

32. "Changes in Budgetary Allocations and International Comparisons of the Social Cost of Rent Seeking: A Critical Note", Public Choice, 1994, 79.

33. "Inside-Information in a Betting Market", (with Y. Shilony). Economic Journal 105, 1995, 963-971

34. "Why do Rational Communists not Obstruct the Transformation Process?" Public Choice, 1995, 85.

35. "Why Do People Support Dictators: Popularity versus Political Exchange," (with J. Sustersic), Public Choice, 94 (1&2), 1998, 117-134.

36. "The Impact of Terrorist Activity on the Israeli Economy. (with E. Brezis) In: HaCohen, M. (ed.) The Progress of Israel's Economy. 1998.

37. "The Rate of Repression, Allocations to Consumption, and Communist Regime Collapse", (with E. Brezis) Eastern Economic Journal, 1998, p. 465-476.

38. "Albania in Transition: The Rocky Road to Democracy", Slav. Rev., vol. 58, 1999, p. 679-680.

39. "Preparing for Secession: The Case of Slovenia" (with J. Sustersic), Acta Oeconomica, 48, (3-4), 1996, 375-392.

40. "On the Timing of Inside Trades in a Betting Market" (with Y. Shilony), The European Journal of Finance 8(2), 2002, 176-186.

41. "Company Performance in Ukraine: Is this a Market Economy" (with T. Andreyevna), Economic Systems 26(2), 2002, 83-98.

42. "On the Marginal Impact of Information and Arbitrage" (with Y. Shilony and R.Thorne), in L. Vaughan Williams (ed.) The Economics of Gambling, Routledge, 2003, 80-94.

43. "Is the Presence of Insider Trading Necessary to Give Rise to a Favourite-Longshot Bias?", (with Y. Shilony), in L. Vaughan Williams (ed.) The Economics of Gambling, Routledge, 2003, 14-17.

44. "Why are the Transition Paths in China and Eastern Europe Different? A Political Economy Perspective", The Economics of Transition, (with E. Brezis) Volume 11, Issue 1, 2003, 3-23.

45. "Is the NBA betting market efficient?", (with G. Weinberg), in G. T. Papanikos (ed.) The economics and management of mega athletic events: Olympic games, professional sports, and other essays, Athens: ATINER, 2004.

46. "Insider Trading and Bias in a Market for State-Contingent Claims", (with Y. Shilony), in L. Vaughn Williams (ed.) Information Efficiency in Financial and Betting Markets, Cambridge University Press, 2005, 287-312.

47. "The Optimality and Statistical Detection of Price Rigging in Betting Markets", (with Y. Shilony), Journal of Gambling Business and Economics, Volume 1, No. 1, 2007, 13-29.

48. "Testing for Home Team and Favorite Biases in the Australian Rules Football Fixed Odds and Point Spread Betting Markets", (with G. Weinberg), Journal of Sports Economics, Volume 9, No. 2, 2008, 173-190.

49. "SP Betting as a Self-Enforcing Implicit Cartel", (with A. Snir), Journal of Gambling Business and Economics, Volume 2, No. 1, 2008, 45-65.

50. "Herding in Imperfect Markets with Inside Traders", (with A. Snir), Journal of Gambling Business and Economics, Volume 2, No. 2, 2008, 1-16.

51. "Shorting the Bear: A Test of Anecdotal Evidence of Insider Trading in Early Stages of the Sub-Prime Market Crisis", (with Les Coleman), Journal of Prediction Markets, Volume 2, No. 2, 2008, 61-70.

52. "Painful Regret and Elation at the Track", (with Barbara Luppi), Journal of Gambling Business and Economics, Volume 2, No. 3, 2008, 85-99.

53. "To What Extent do Investors in a Financial Market Anchor Their Judgments? Evidence From the Hong Kong Horserace Betting Market", (with Shuang Liu and Johnnie E.V. Johnson), Journal of Behavioral Decision Making, Volume 24, no. 2, 2009, 410-434.

54. "The Impact of Insider Trading on Forecasting in a Bookmakers' Horse Betting Market", (with Martien Lamers and Vasiliki Makropoulou), The International Journal of Forecasting, Volume 26, no. 3, 2009, 537-542.

55. "False Consciousness in Financial Markets: Or is it in Ivory Towers?", (with Sara Westreich), The Journal of Gambling Business and Economics, Volume 4, no. 1, 2010, pp. 19-30.

56. "Attitudes to Risk and Roulette", (with Sara Westreich), Research and Discussion, Volume 3, no. 3, pp. 3-20.

 

57. “The Prediction Market for the Australian Football League”, in Vaughn Williams, L., Prediction Markets, Routledge, 2011, pp. 221-234.

58. “The Regression Tournament: A Novel Approach to Prediction Model Assessment”, (with Janez Sustersic), Journal of Prediction Markets, Volume 5, no.2, 2011, pp. 32-43.

59. “Animal modeling of earthquakes and prediction markets”, (with Yisrael Schnytzer), Journal of Prediction Markets, Volume 6, no. 2, 2012, pp.59-76.                                          

60. "Pricing Decisions and Insider Trading in Horse Betting Markets", (with Martien Lamers and Vasiliki Makropoulou), in L. Vaughan-Williams and Donald Siegel, D., Oxford Handbook of the Economics of Gambling, Oxford University Press, forthcoming.                                

61. “Insider Trading in Betting Markets”, in L. Vaughan-Williams and Donald Siegel, D., Oxford Handbook of the Economics of Gambling, Oxford University Press, forthcoming.

62. “A Global Index of Riskiness”, (with Sara Westreich), Economics Letters, Volume 118, Issue 3, March 2013, Pages 493–496.

63. “Do TV Viewers Value Uncertainty of Outcome? Evidence from the Australian Football League”, (with Trung Minh Dang, Ross Booth and Robert Brooks). The Economic Record. Volume 91, No. 295, December, 2015, pp. 523-535

Papers Submitted for Publication:

 

"Information and Attitudes to Risk at the Track", (with Sara Westreich).

 

 

Reviewer for Journals:

  • Journal of Comparative Economics
  • European Journal of Political Economy
  • Journal of Developing Areas
  • Economic Systems
  • The Economic Journal
  • Journal of Gambling Business and Economics
  • Economica
  • Atlantic Economic Journal
  • Journal of Sports Economics

 

Areas of expertise and research interest:

Economics of betting markets, insider trading, sportometrics, comparative economics and political economy.