McKinsey writes about prediction markets.

Jed Christiansen April 15th, 2008

McKinsey & Company, the prestigious consulting firm, recently published an interview focusing on prediction markets in their McKinsey Quarterly journal. (Link to abstract is here, free registration required to read the article.)

The interview included Bo Cowgill of Google, Jeff Severts of Best Buy, James Surowiecki (author of the Wisdom of Crowds) and Todd Henderson (an ex-McKinsey consultant.) It’s an interesting eleven-page article that discusses both prediction markets in general as well as specific experiences from Google and Best Buy.

I’ve written up a full review/summary of the article on Mercury’s blog here.

This article in the McKinsey Quarterly is yet another good “traditional” source that should help encourage more companies to view prediction markets as a mainstream business tool.

Tags: Best Buy, Bo Cowgill, corporate prediction markets, enterprise prediction markets, event derivative markets, Google, internal prediction markets, James Surowiecki, Jeff Severts, McKinsey, prediction markets, private prediction markets, The Wisdom Of Crowds, Todd Henderson