Prediction Markets + Market Predictions = Collective Forecasting That Pays Off
The criticism first appeared on the InTrade forum, but John Delaney ignored them.
Then, it spreads on the Blogosphere. InTrade has been ridiculed for setting up illogical contracts.
InTrade has just issued a correction.
Once again, we see a lack of professionalism at InTrade.
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Paul Hewitt on “In 1965, Congress said Medicare would cost $9 billion by 1990. In reality, it cost $67 billion –seven times more than the prediction.”
Chris F. Masse on “In 1965, Congress said Medicare would cost $9 billion by 1990. In reality, it cost $67 billion –seven times more than the prediction.”Paul Hewitt on “In 1965, Congress said Medicare would cost $9 billion by 1990. In reality, it cost $67 billion –seven times more than the prediction.”
Max Keiser on Nate Silver: InTrade probability on ObamaCare is quite right.
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InTrade modify depression contract… and messes up again.
http://www.midasoracle.org/2009/02/17/intrade-depression-prediction-markets/