[...] At first glance, the quality of the market’s vote share predictions were somewhat disappointing compared to the three main polls [...] However, the story changes dramatically if, instead of looking at the predictions just before the election, we consider the predictions several weeks earlier. Four to seven weeks before election day, the polls were much less reliable and the market clearly out-predicted them, individually and as a group. [...]
Of course, the ideal case is when the series of predictions that one prediction market outputs is accurate (relatively to polls or experts) in its entirety —both the day before the election and several weeks earlier.
As for the NewsFutures blogroll, note that Emile Servan-Schreiber has deleted the link to Midas Oracle —which is a clear sign that he disagrees with my statement that Midas Oracle .ORG is the Universe’s premier group blog on prediction markets of all times —past, present and future.
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Addendum from the NewsFutures CEO:
Chris, this market was using real money, up to 100 EUR per trader. A total of 90,000 EUR was deposited by about 1,800 traders, which means an average of 50 EUR per trader.
Sorry for the error in this blog post title. Indeed. Corrected now.
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Chris, this market was using real money, up to 100 EUR per trader. A total of 90,000 EUR was deposited by about 1,800 traders, which means an average of 50 EUR per trader.