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	<title>Comments on: With a prediction market, everyone brings a small piece of information to the table, and the consensus proves surprisingly accurate.</title>
	<atom:link href="http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/</link>
	<description>Prediction Markets For All</description>
	<pubDate>Tue, 02 Dec 2008 19:21:27 +0000</pubDate>
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		<title>By: Alex Forshaw</title>
		<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15674</link>
		<dc:creator>Alex Forshaw</dc:creator>
		<pubDate>Fri, 25 May 2007 19:41:29 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15674</guid>
		<description>Yeah, that happens... I wonder if Prof. Wolfers wants to chime in on this?</description>
		<content:encoded><![CDATA[<p>Yeah, that happens&#8230; I wonder if Prof. Wolfers wants to chime in on this?</p>
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		<title>By: Chris. F. Masse</title>
		<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15673</link>
		<dc:creator>Chris. F. Masse</dc:creator>
		<pubDate>Fri, 25 May 2007 19:26:11 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15673</guid>
		<description>OK, got you.

However, bear in mind that journalos cherry-pick the quotes from you. For instance, I sent something like 20 or 30 sentences to the CNET journalo, and he picked 2 or 3.

Could be that Justin Wolfers gave the wider picture, but because of lack of space, only two or three sentences from him made it in the final article.</description>
		<content:encoded><![CDATA[<p>OK, got you.</p>
<p>However, bear in mind that journalos cherry-pick the quotes from you. For instance, I sent something like 20 or 30 sentences to the CNET journalo, and he picked 2 or 3.</p>
<p>Could be that Justin Wolfers gave the wider picture, but because of lack of space, only two or three sentences from him made it in the final article.</p>
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	<item>
		<title>By: Alex Forshaw</title>
		<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15672</link>
		<dc:creator>Alex Forshaw</dc:creator>
		<pubDate>Fri, 25 May 2007 19:12:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15672</guid>
		<description>About the markets predicting every race in the 2006 elections correctly. 

Lance Fortnow took one selective snapshot of the markets which, in my view, was not representative. You could have found one snapshot of where the markets were to retrospectively vindicate yourself no matter what actually happened.

There is a widespread opinion that the markets "failed" the 2006 elections. I don't think that's necessarily correct, but you had better have very good data before you buck a consensus, or else you just look silly. 

Wolfers is probably thinking of that one map on Lance Fortnow's site, which was where the PMs were at one point in time. But from what I observed, watching the PMs pretty much nonstop for 48 hours up through the election, it was not representative.

Just saying.</description>
		<content:encoded><![CDATA[<p>About the markets predicting every race in the 2006 elections correctly. </p>
<p>Lance Fortnow took one selective snapshot of the markets which, in my view, was not representative. You could have found one snapshot of where the markets were to retrospectively vindicate yourself no matter what actually happened.</p>
<p>There is a widespread opinion that the markets &#8220;failed&#8221; the 2006 elections. I don&#8217;t think that&#8217;s necessarily correct, but you had better have very good data before you buck a consensus, or else you just look silly. </p>
<p>Wolfers is probably thinking of that one map on Lance Fortnow&#8217;s site, which was where the PMs were at one point in time. But from what I observed, watching the PMs pretty much nonstop for 48 hours up through the election, it was not representative.</p>
<p>Just saying.</p>
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	<item>
		<title>By: Chris. F. Masse</title>
		<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15670</link>
		<dc:creator>Chris. F. Masse</dc:creator>
		<pubDate>Fri, 25 May 2007 17:21:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15670</guid>
		<description>?????????</description>
		<content:encoded><![CDATA[<p>?????????</p>
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		<title>By: Alex Forshaw</title>
		<link>http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15669</link>
		<dc:creator>Alex Forshaw</dc:creator>
		<pubDate>Fri, 25 May 2007 17:10:42 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/2007/05/25/with-a-prediction-market-everyone-brings-a-small-piece-of-information-to-the-table-and-the-consensus-proves-surprisingly-accurate/#comment-15669</guid>
		<description>PM cheerleading is good, but what Prof. Wolfers said simply wasn't true...</description>
		<content:encoded><![CDATA[<p>PM cheerleading is good, but what Prof. Wolfers said simply wasn&#8217;t true&#8230;</p>
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