Tag Archives: George Gallup

Prediction markets compete against GROUPS of experts.

From Anthony Townsend’s Confab notes (cited for the third time, I should pay him royalties): But as Adam Siegel, IFTF’s partner at Inkling pointed out, there are 3 main reasons why prediction markets fail: #1. People don’t understand the concept … Continue reading

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Historical prediction markets: Kudos to Koleman Strumpf and Paul Rhode

Excerpted at CFM and cited here, the NewsWeek article (heavily featuring professor Justin Wolfers and consultant David Perry) is a very good read. The driving force behind the WSX—betting on election outcomes—is nothing new. Even though the first organized markets … Continue reading

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Faulty polls screw up the political prediction markets. – REDUX – The “no polls” case, now.

Two days ago, I stated brashly that political prediction markets aggregate the polls, mainly. (Mike Linksvayer nuanced my propos, in the comment area.) GOP Keeps Senate, Loses House, Betting Site Says. – [US political prediction markets] – by Ronald Kessler … Continue reading

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Faulty polls screw up the political prediction markets.

In today’s soapbox: Yet it turns out that in 2002, IEM markets indicated that Republicans would lose the house. Which we now know is wrong. They were pretty consistent in their 2004 presidential prediction, however. I recall that Surowiecki discussed … Continue reading

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