Tag Archives: Bob Erikson

Damped polls outperform prediction markets.

Forecasting Principles: Damping polls Evidence from the literature shows that polls, in particular early in the campaign, are not reliable in predicting election outcomes but tend to overestimate the extent to which a candidate leads. To deal with these uncertainties, … Continue reading

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POLLS VERSUS PREDICTION MARKETS: Justin Wolfers retorts to Bob Erikson.

Justin Wolfers (in January 2008): 1. Bob and Chris has four elections in their data, so it is hard to draw too much from it. That said, I draw two conclusions. First, markets beat an unconditional use of polls as … Continue reading

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Based on market data from a tiny prediction exchange (IEM, which is much smaller than InTrade-TradeSports or BetFair), a couple of researchers claim that prediction markets do not have superior predictive power. — And, adding salt to injury, they call our prediction market luminaries (Robin Hanson, Justin Wolfers, etc.)… “naive”.

Via Adam Siegel… …of Inkling Markets fame…. – Are Political Markets Really Superior to Polls as Election Predictors? – (draft: PDF file) – by Robert S. Erikson and Christopher Wlezien – 2008-05-02 Abstract Election markets have been praised for their … Continue reading

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The Growth of Gambling and Prediction Markets: Economic and Financial Implications

Bruke Hansen: [...] Steven Levitt, of Freakonomics fame, got the party started with a keynote address that gave his general opinion of the importance of gambling and prediction markets – namely, that in the grand scheme of things, they really … Continue reading

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The Growth of Gambling and Prediction Markets Workshop starts today.

In a few hours, the workshop The Growth of Gambling and Prediction Markets: Economic and Financial Implications starts at Palm Desert, California. The quality of presenters is excellent and the workshop has succeeded in attracting high level contributions. The program … Continue reading

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The Growth of Gambling and Prediction Markets: Economic and Financial Implications

The Growth of Gambling and Prediction Markets: Economic and Financial Implications – University of California at Riverside, Palm Desert, California, U.S.A. – 2007-05-10~22 Gambling: Design and Implementation 1 – “An Examination of the Determinants of Biased Behaviour in a Market … Continue reading

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