The piece is problematic insofar as it underweights proximity to areas where people work, which results in high ratings for distant neighborhoods and low ratings for central ones, on top of the effect of higher rents in central neighborhoods. True, if you work from home, it might make more sense to live in the outer boroughs. But if you have a one hour + commute every day, it doesn’-t really help that you happen to live near a subway stop and thus have a relatively high “-transit”- rating.
For the restaurant category, he seems to be considering quantity but not quality. How else does Long Island City have a higher rating than Gramercy/Flatiron, where 9 of the top 50 Zagats restaurants are located? I don’-t even think that Long Island City beats Gramercy/Flatiron in terms of quantity either.
Ultimately, of course, preferences are too subjective to give one ordinal ranking, but the distance-to-average-work-location issue seems glaring, and increases the outer borough bias.
For aspiring practitioners and those intrigued by the applications of collective intelligence in the workplace, the typical prediction markets conference can be frustrating for lack of focus on practical knowledge and hands-on experience with the tools. That’-s why NewsFutures is organizing a Wisdom of Crowds Consulting Workshop, in New York City, on October 27.
It is designed primarily for business consultants who would like to acquire working knowledge of “-WOC”–based solutions, or for the manager looking for some hands-on experience while considering the potential of this approach for his or her company.
The one-day program will cover:
Foundations Prediction Markets and Wisdom of Crowds 101: principles, mechanisms, evidence, and applications
Applications Case studies in strategy, forecasting, innovation, and project management
Tools Hands-on experience with various wisdom-of-crowds software tools: Prediction Markets, Competitive Forecasting, Idea Pageant, and Impact Matrix
Practice Keys to a successful implementation: information, integration, inclusion, interface, and incentives
Collaboration Nuts and bolts of working with NewsFutures
If you are interested, please follow this link for more information about the venue and how to register.
I look forward to seeing you in NY, home of the world’-s financial meltdown!