Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: Todd Proebsting

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 [...]

Spectrum has a long article on prediction markets.

Bet on It! – (page two – page three + a crappy listing of exchanges) – by Steven Cherry
In August 2004, Todd Proebsting, a researcher in Microsoft’s platform and services division, was approached by a manager in the company’s testing organization who had spent months helping to create a piece of software to be used [...]

Yahoo! Research + MicroSoft Research vs. Google Research

Yahoo! Research does investigate prediction markets —see David Pennock (the inventor of the DPMM) et al.
MicroSoft Research does investigate prediction markets —see Todd Proebsting (“I lead Microsoft Research’s Information Forecasting Exchange project“).
Google Research does not investigate prediction markets —see this interview. (The prediction markets effort at Google is part of the 20% project of a [...]

Bo Cowgill, Todd Proebsting and David Pennock Compared

Robin Hanson’s Market Scoring Rule Seen Thru David Pennock’s Eyes That Focus On Todd Proebsting

Trying to summarize David Pennock’s 2006 MSR piece in just three sentences:
Robin Hanson prefers talking about traders “changing the price” instead of traders “buying and selling shares”. MicroSoft Research’s Todd Proebsting is the man. He has implemented a great “buying and selling shares” MSR.
Previous: Conditional and Combinatorial Betting – by Chris Hibbert

Conditional and Combinatorial Betting

After people have used Prediction Markets for a while and have gotten used to their ability to provide forecasts, they start thinking about different scenarios. Who would be the best Republican to face Clinton? How are the prospects for a market boom or crash effected by the winner of the election? How will poverty be affected by a proposed World Bank program? These kinds of questions can be posed in a number of ways using Prediction Markets. Markets can allow betting on conditional (if) or conjunctive (and) questions. Either one can be used to answer the what if questions, but they provide different choices to the bettors, and some make it easier for observers to decode the answers.

Predictocracy: Market Mechanisms for Public and Private Decisionmaking — THE MARKET WEB

Predictocracy: Market Mechanisms for Public and Private Decisionmaking – by Michael Abramowicz – 2007-xx-xx – (fall)
Chapter: The Market Web – (towards the end of the book)

Michael Abramowicz:
If prediction markets should become commonplace, decisionmakers might link to them in their own analyses.
Will trading play-money and/or real-money event derivative contracts become commonplace? It’s likely, at the contrary, [...]

Case: MicroSoft’s internal prediction markets

CNET on the Yahoo! Confab:
When Todd Proebsting, director of Microsoft’s Center for Software Excellence, tested a prediction market internally, managers quickly gave it their blessing.
The goal: to have 25 members of a development team predict when a Microsoft product would ship (this was an internal product, not one sold externally). The prediction market was set [...]

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