Comments on: Could Pat Buchanan’s socio-economic ramblings lead to the creation of socially interesting, long-term prediction markets? http://www.midasoracle.org/2007/11/26/could-pat-buchanans-socio-economic-ramblings-lead-to-the-creation-of-socially-interesting-long-term-prediction-markets/ Prediction Markets + Market Predictions = Collective Forecasting That Pays Off Fri, 19 Mar 2010 23:17:01 -0400 hourly 1 By: Michael Giberson http://www.midasoracle.org/2007/11/26/could-pat-buchanans-socio-economic-ramblings-lead-to-the-creation-of-socially-interesting-long-term-prediction-markets/#comment-16506 Michael Giberson Mon, 26 Nov 2007 22:10:33 +0000 http://www.midasoracle.org/2007/11/26/could-pat-buchanans-socio-economic-ramblings-lead-to-the-creation-of-socially-interesting-long-term-prediction-markets/#comment-16506 To be clear, when I refer to "his nonsensical ramblings about 'loss of sovereignty' and manufacturing jobs 'vanishing' ", I am speaking hypothetically (I.e. subsuming the "nonsensical ramblings" description under the "Even if..." clause at the beginning of that sentence. I haven't read the book under discussion, and so am not (at this time) claiming Buchanan's latest book is in fact nonsensical rambling. The point is that the offers implicit in a well defined prediction market provide the opportunity for pundits of all stripes to "put their money where their mouth is" and thereby provide a test of the strength of their commitment to their claims. To be clear, when I refer to “his nonsensical ramblings about ‘loss of sovereignty’ and manufacturing jobs ‘vanishing’ “, I am speaking hypothetically (I.e. subsuming the “nonsensical ramblings” description under the “Even if…” clause at the beginning of that sentence.

I haven’t read the book under discussion, and so am not (at this time) claiming Buchanan’s latest book is in fact nonsensical rambling.

The point is that the offers implicit in a well defined prediction market provide the opportunity for pundits of all stripes to “put their money where their mouth is” and thereby provide a test of the strength of their commitment to their claims.

]]>