Corrupt Bookmaking in a Fixed Odds Illegal Betting Market*
研究垄断庄家在非法体育博彩中贿赂球员制造冷门，即使赌徒理性，只要庄家判断有噪音，操纵仍会发生。
Illegal betting in a two‐team sports contest is studied with player sabotage instigated by a monopolist bookmaker. Whereas punters hold beliefs about the teams’ winning chances correlated with Nature’s draw, the bookmaker’s information is noise‐free. Enforcement investigates with a higher probability, the greater the upset. In such an environment, if punters do not suspect match‐fixing, the favourite is bribed, thus creating upsets and intensifying subsequent investigations. Match‐fixing continues to hold even when punters are rational, provided that the bookie’s beliefs are noisy: the bookie bribes the team he thinks is the favourite and the bettors bet on their perceived favourites.