Emile Servan-Schreiber wants to clean up the field of prediction markets.
Emile Servan-Schreiber commenting at Freakonomics (scroll down to the comment #4):
Predictify may be a fine "for dummies" prediction game, but it certainly isn't prediction "market". It's rather more like parimutuel betting. The distinction is important because prediction markets reward people not just for being right, but for being right before others. Prediction markets have demonstrated [...]

Author: Chris. F. Masse
Category: Analysis (Meta)        Definitions
Publish Date: Fri, 26 Oct 2007 06:44:53 +0000

Emile Servan-Schreiber commenting at Freakonomics (scroll down to the comment #4):

Quote:

Predictify may be a fine "for dummies" prediction game, but it certainly isn't prediction "market". It's rather more like parimutuel betting. The distinction is important because prediction markets reward people not just for being right, but for being right before others. Prediction markets have demonstrated again and again their ability to aggregate information and produce accurate predictions, whereas prediction games like Predictify still have everything to prove.

It is deeply misleading to call any wisdom-of-crowds contraption a prediction market.

I agree with EJSS, on that one.

Previously: Discussion on the definition of prediction markets

Share This


Read more... - Read comments...

Source: Midas Oracle .ORG
Description: Prediction Markets For All