Tag Archives: collective wisdom

Prediction markets = A tool for quantifying the conventional wisdom

Eric Zitzewitz responded to Paul Krugman: Almost all of the serious people who study or work with these markets are not in the “markets are magic” camp. My work in this area (with Justin Wolfers usually and Andrew Leigh and … Continue reading

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THE SILICON ALLEY BLOG COMES TO THE RESCUE OF THE PREDICTION MARKETS.

Silicon Alley’s Jonathan Kennedy: [...] In denouncing prediction markets as “wrong,” however, many pundits miss the point. Prediction markets do not provide accurate predictions of the future. (How could they? They simply represent the consensus guess of a group of … Continue reading

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