Why the influenza A (H1N1) prediction markets are not used by the media and the decision makers
If H1N1 were more deadly, there’d be more interest in forecasting the number of victims. So far it seems about as deadly as an ordinary flu, which ordinary folks also aren’t very interested in tracking. Now if there a market in the chance of very high death rates, that might gain more public interest.
Here is another question:
- Have the public prediction markets ever been taken seriously by the media and the decision makers during the 1988–2009 period?
My answer:
- The reach of the political election prediction markets have been limited to some business media. They very rarely got infiltrated in the popular, general news media.
- Overall, the media are ignoring the prediction markets, my good doctor Hanson. And the world has had a series of grave, deadly incidents since 1988 —9/11 being one among many.
A swine flu prediction market?
Swine flu occurs largely in countries wherein no reliable data is available. Few people who would be participating in a prediction market have the slightest interest in either the hog or the human population in the countries afflicted.
Does anybody really care enough to make money out of trading Swine Flu, when they can bet on Man Utd vs Chelsea?