Tag Archives: Web-based market
With a prediction market, everyone brings a small piece of information to the table, and the consensus proves surprisingly accurate.
The American: A Bettor World – Once apprenticed to a bookie, Justin Wolfers of Wharton now draws economic insight from the behavior of gamblers.
[...] Last year, for instance, the aggregate of small bettors who placed wagers on electoral results on TradeSports, a Web-based market, forecasted the outcome of every U.S. Senate race correctly. Companies like [...]
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Also tagged Andrew Leigh, Best Buy, economist, electronics retailer, Iraq, Justin Wolfers, location, oil, oil dividend, oil price spike, online prediction market, prediction markets, senior VP, United States, United States Senate
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