- Please, put that on YouTube, and then give me the YouTube URL. I’ll embed the video in another post.
- Who is that guy that they will interview later on, Jason??? [UPDATE: Serge Ravitch]
My observations:
Quite upbeat. Almost an advertisement for InTrade.
No mention whatsoever that InTrade is illegal in America.
On the website, they call InTrade a “political futures market”.
The InTrade critic was Barry Ritholtz. They just showed his blog. He wrote that the trading on InTrade is “pitifully” small.
The first prediction market analyst they want to hear is InTrade CEO John Delaney. The second is professor Justin Wolfers. And that’s all.
Steve Forbes asked whether “this thing” (InTrade) predicted Joe Biden “weeks ago”. The answer is that InTrade predicted Joe Biden some days ago.
Joe Kerner put an emphasis on liquidity, whereas the emphasis should have been on the market as the mechanism that delivers a collective verdict.
UPDATE: YouTube video (the last part was censored by InTrade-TradeSports CEO John Delaney - PRECISION: the discussion between the journalists and the guest on the TV set was suppressed)
As you all know, The National Enquirer (a supermarket tabloid which pays its informants and sometimes publishes false news) has it that John Edwards has a “love child” from one of his former assistants (all this while his wife is dying of cancer), and that the whole story is being covered up, big time.
Prediction Markets Harness The Wisdom Of The Crowd To Predict The Future
Prediction Markets Bring A Market Function To The Gathering Of Information
Most Markets See Accuracy That Is At Least As Good As Traditional Forecasting Methods
Prediction Markets Have Substantive Benefits For The Enterprise…
…But Still Need Active Supervision To Ensure Success
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The “wisdom of crowds” is capturing the attention of corporate strategists across the globe, and, as a result, many are now looking to prediction markets — speculative markets in which traders collectively predict future events — to generate collective intelligence. For enterprises, prediction markets bring unique value: They focus on the future, aggregate diverse information pools that can be applied to multiple decision-making domains, create streams of actionable data suitable for executive decision-making, and can often cut through corporate politics and pressures at lower cost than traditional forecasting methods. Market researchers will, however, need to have an active hand in the management of these mechanisms, ensuring strong management support, the right incentives for traders, and a focus on appropriate questions. When executed properly, the value to the enterprise is enormous; as a result, Forrester believes that prediction markets will ultimately find a permanent home in the market research toolbox.
