Professor Mark Perry is wrong to yell victory. Evaluating probabilistic predictions is tougher than one thinks.

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Source: InTrade
Professor Mark Perry is wrong to yell victory. Evaluating probabilistic predictions is tougher than one thinks.

![]()






Source: InTrade
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How convenient of Professor Perry to leave out the two screenplay markets! Precious won and the expectation was only 7.5% on hsx.
I still couldn’t convince my wife how wonderful these prediction markets really are. You can read more, here:
http://torontopm.wordpress.com/2010/03/08/oscars-prediction-markets-get-it-right/