Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: Oscars

Oscars 2010 Post-Mortem — InTrade Prediction Markets

Professor Mark Perry is wrong to yell victory. Evaluating probabilistic predictions is tougher than one thinks.

Source: InTrade

Conditional Likelihood Loss — Redux

- Nate Silver: 0.6032
- InTrade: 0.3699
- HubDub: 0.2237
HubDub beats both InTrade and Nate Silver.

Conditional Likelihood Loss

- Nate Silver: 0.6032
- InTrade: 0.3699
InTrade looks much better than Nate Silver on the Oscars 2009.
Waiting for the HubDub numbers, now. Nigel, are you napping or what?

HubDub: “We nailed all 50 states; Panos did not.”

UK’s Guardian lambasts Mr Crystal Balls Nate Silver.

“A less-than-brilliant Oscars for Nate Silver, who used his skills as a baseball statistics nerd to turn his politics blog, FiveThirtyEight.com, into the online hit of last year’s election. Silver predicted the presidential outcome with eerie precision, and gamely crunched the numbers for Sunday’s awards ceremony too, weighing such factors as release date, box office [...]

HubDub takes home the Gold at the Oscars.

Well the Oscars have come and gone and although most pundits are chattering about Slumdog’s amazing 8 wins and Hugh Jackman’s dulcet tones, I’m more impressed by Hubdub’s amazing success.
Out of the major races, we got EVERY SINGLE ONE RIGHT. We were also the only major prediction exchange to correctly predict the Best Actor race [...]

Predicting the Oscars is in no way the right litmus test for assessing the predictive power of the prediction markets.

Mickey Kaus:
Most people in the U.S. with indoor plumbing could get [the Oscars] right.

Nate Silver’s model vs. InTrade’s prediction markets

The information is below.
However, before that, just a short note.
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The real comparison to do would be to compare the prediction markets with a panel of very diverse Oscar predictors.
The real question to ask is, “Was forecasting each Oscar category an easy task or a difficult task?”. If it is considered easy, then the prediction markets [...]

The Oscars: What the prediction markets are expecting

Right-click on the charts, to visit the many prediction markets about the Oscars.
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See Wiser Than The Crowd, for some Oscars betting coverage.
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BetFair – The Oscars
Mike Robb: SlumDog Millionaire is poised to get 7 Oscars.
We will see…
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81st Academy Awards: Who will win the Oscar for Best Picture?
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© NewsFutures
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Hollywood Stock Exchange – The Oscars
Press [...]

Betting on the Oscars

Prediction markets have been spot-on when it comes to picking presidents, but the record is less stellar when it comes to movie stars.
Both statements are dead wrong.

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