Oh, Jesus: The editor of The Big Money (a business site that WashPo’s Slate will launch soon) misunderstands the prediction markets.

-

His anti-scientific, simplistic arguments:

  • They’re too small.
  • The stakes are too low.
  • They’re too slow to react to events.

-

He reaches the wrong conclusion:

To get the maximum use out of them, we must—as with political polls—learn to read them in a discriminating, critical fashion.

-

So, now we know: We will stay away from The Big Money.

-

About Chris F. Masse

Founder and President of Midas Oracle
This entry was posted in Analysis (Accuracy & Precision), Analysis (Meta), Exchanges & Markets and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply