ABC 20/20 featuring InTrade on May 9, 2008 —- 10:00 pm ET
Foretelling the Future: Online Prediction Markets —- (4 pages in all)
Now Intrade is more than just a place where people win or lose money making bets. It turns out that the share prices on Intrade can be accurate predictors of the future. Intrade attracts a large and diverse crowd of bettors, and because each participant puts their money on the line, they may be more likely to make careful decisions. As a result of the collective intelligence of more than 77,000 bettors on Intrade [*], the prices on the site may be a good way to predict the outcome of current events —- more accurate than some polls and pundits.
[*] and thanks to InTrade’-s market mechanism…-
Previous blog posts by Chris F. Masse:
- Become “friend” with me on Google E-Mail so as to share feed items with me within Google Reader.
- Nigel Eccles’ flawed “vision” about HubDub shows that he hasn’t any.
- How does InTrade deal with insider trading?
- Modern Life
- “The Beacon” is an excellent blog published by The Independent Institute.
- The John Edwards Non-Affair… is making Memeorandum (twice), again.
- Prediction Markets = marketplaces for information trading… and for separating the wheat from the chaff.