The Reuters story on the expansion of prediction exchanges
... is probably the story that prompted Matt Drudge to cite the Iowa Electronic Markets, briefly, yesterday, on its one-page website.
Thanks to George Tziralis for the Reuters link.
John Delaney, the chief executive of Intrade, said the similar results are a sign the markets are trading on the same information. "We are in a world of [...]

Author: Chris. F. Masse
Category: Analysis (Industry)        Analysis (Meta)
Publish Date: Tue, 30 Oct 2007 07:07:59 +0000

... is probably the story that prompted Matt Drudge to cite the Iowa Electronic Markets, briefly, yesterday, on its one-page website.

Thanks to George Tziralis for the Reuters link.

Quote:

John Delaney, the chief executive of Intrade, said the similar results are a sign the markets are trading on the same information. "We are in a world of information overload and prediction markets can summarize, aggregate, distill a huge amount of thought, opinion and expert view into single probabilities," he said.

I'm in agreement with John Delaney. A prediction market is an information aggregation tool of convenience.

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