Tag Archives: decision-making tool
The Case for Decrimininalization of Prediction Markets
[This article is cross-posted from Major Wager.]
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A recent article in the prestigious academic journal Science (May 16, 2008, Vol 320, p. 877-8) once again makes the case for regulated prediction markets, more commonly known as “betting exchanges” to online gamblers. The authors make the case that such markets are useful in forecasting future events with [...]
BetFair’s Global Warming Prediction Markets — CFM’s Views
GOOD NEWS: BetFair-TradeFair are minding the prediction markets.
BAD NEWS: There is a bunch of chaps at BetFair who are monkeying around with the concept of prediction markets.
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THEIR INTENT IS NOBLE.
Mark Davies, Betfair’s Managing Director Corporate Affairs, said:
Whilst these climate markets are experimental, they demonstrate a commitment to use our assets to innovate and make a [...]
I think Robin’s being too hard on himself.
That’s what I was told by someone who knows him [Robin Hanson] for more than just years.
So I figured out I should write up a little something, especially since I saw this morning that my previous blog post (Is GMU professor Robin Hanson an inventor, an innovator, or… a complete loser??) was yesterday’s most downloaded [...]
Decision-Making Tool vs. Decision-Aid Tool — Decision Markets Edition
#1. Decision-Making Tool – Decision markets are conditional prediction markets intended (by some idealists) to be used as a decision-making tool replacing human decision makers.
#2. Decision-Aid Tool – Decision markets are conditional prediction markets intended to be used as a decision-aid tool advising human decision makers.
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Am I nailing well the Robin Hanson ambiguity here?? It [...]
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