The Wikipedia entry on prediction markets looks like a messy Marrakesh bazaar. — Shame on all members of the field of prediction markets –including the author of this present, finger-wagging post.
Chris F. Masse June 1st, 2008
The Wikipedia entry on prediction markets does not seem to be well maintained.
Here are the warnings that welcome visitors. The first of the 2 warnings has been up since November 2007 —that’s 7 months ago!!!!!!
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And the definition opens on the big myth, create by IEM, and perpetuated by some scholars:
Prediction markets are speculative markets created for the purpose of making predictions.
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It’s a big myth.
The TradeSports and BetFair prediction markets were primarily created to satisfy the traders —their predictions come as an interesting offspring.
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