Midas Oracle .ORG » betmarkets http://www.midasoracle.org Prediction Markets, etc. Mon, 13 Feb 2012 22:24:30 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 The term “event markets” sucks —and the uncritical thinkers using this crappy term suck too. http://www.midasoracle.org/2008/06/12/event-markets/ http://www.midasoracle.org/2008/06/12/event-markets/#comments Thu, 12 Jun 2008 12:28:01 +0000 Chris F. Masse http://www.midasoracle.org/?p=7227 Continue reading →]]> Google: “event markets” — Funny enough, the first link is to the Futures Industry Association, which promoted the term… and the second to CFM, which advises not to use that term (see the bottom of the CFM frontpage). :-D

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Just because 2 or 3 bureaucrats at the CFTC have decided to use that term does not mean that that term makes sense. It does not. “Event derivative markets” or “prediction markets” are better terms. It’s with great displeasure that I saw our own Mike Giberson (supposedly, a libertarian, and supposedly, a wannabe academic) followed the step of the CFTC like an obedient little poodle. :-D

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Just because somebody in power says something stupid that makes no sense at all does not mean that you should swallow it and direct it straight to your stomach.

Use your brain to perform critical reasoning.

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