Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: Keith Jacks Gamble

The best researchers on prediction markets

CFM: Scholars
Check that CFM page for updates. And contact me so I can make additions to the list. (I’ll then re-publish that updated list on Midas Oracle.)
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Michael Abramowicz – Michael B. Abramowicz – (Law School, George Washington University, Washington, D.C., U.S.A.) — Post Archives at Midas Oracle
Bernd H. Ankenbrand – Bernd Ankenbrand – (Lecturer, Witten/Herdecke [...]

Steve Levitt’s absurd take on blogging

There’s a video corner on the NYT/Freakonomics blog, and the first video posted there is from Steve Levitt who answers this question, “Why Blog?”. Basically, Steve Levitt says that he keeps his serious thoughts for his academic papers, and that his blog (which he views as a notepad) is the recipient for his less serious [...]

Meet Keith Jacks Gamble.

Keith Jacks Gamble

The Sim Exchange slightly TWEAKS its market-maker algorithm.

The Sim Exchange (simExchange):
After observing a few months of trading on the simExchange, the NPC market makers have been tweaked to provide more consistent liquidity across stocks and smaller price differences between their orders. The effect of these changes should result in more activity in higher priced stocks, such as console stocks. Percent price changes [...]

The Sim Exchange: Stocks vs. Stock Derivatives (Futures & Options)

#1. SIM EXCHANGE’S Brian Shiau talks back to USABLE MARKETS’ Alex Kirtland… on the usability of the Sim Exchange.
Brian Shiau:
[...] I also believe gamers think of game sales in terms of lifetime sales. People remember that Halo 2 sold over 7 million copies. They don’t remember how many copies it sold between months 2 and [...]

Why should I join the simExchange?

The Sim Exchange (a.k.a. the simExchange):
2. Ever wonder what the rest of the world really thinks about the games you already pre-ordered five months ago?
The simExchange lets you observe an aggregated forecast for how many copies a game will sell globally. Experts explain that market-driven systems can aggregate information from thousands of people, resulting in [...]

Keith Jacks Gamble: simExchange is somewhat OK, but will remained confined in play-money land.

Keith Jacks Gamble on Brian Shiau:
Thanks for the response. It’s interesting to see examples of product news stories and how your markets responded. These examples suggest that your game share prices are connected with sales. I’m not surprised and Keynes wouldn’t be either. His beauty contest view explains exactly why prices on the simExchange are [...]

Justin Wolfers vs. Chris Hibbert

The Economic Derivatives Market – by Justin Wolfers
Conditional and Combinatorial Betting – by Chris Hibbert

If I had to bet which of the two blog posts will have a better success with the Google Search users, I’d say Chris Hibbert’s one. It is longer, and the main keywords are repeated more often.
If I had to publicize [...]

Prediction Markets and the Sim Exchange

Justin Patterson on Keith Jacks Gamble on the Sim Exchange (a.k.a. the simExchange):
It is a valid criticism, since fundamental analysis is essentially impossible until sales data by NPD Funworld is released (Shiau has some nice empirical results relating to prices ex-ante and ex-post sales figures, and the resulting market corrections…scroll down until you see the [...]

Brian Shiau: The Sim Exchange Works Fine, Thanks.

Brian Shiau talks back to Robin Hanson and Keith Jacks Gamble:
[...] Many players realized early on that share prices on the simExchange are completely based on what other people are willing to pay: [...]
[...] Empirical evidence of trading on the simExchange has demonstrated at least some [market] efficiency. [...]
Players who did not trade in the [...]

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