James R Miceli for Congress
Justin Wolfers and Eric Zitzewitz were asking, “-How to attract uninformed traders?”-. (PDF file) Well, here’-s one answer. Make suckers believe that Inkling Markets is like a voting system, where the more supporters show up for a political candidate, the more likely it will be that their candidate will get the nomination/election. (See Mike Giberson’-s excellent blog post, yesterday, for more info.)
REALITY CHECK: The “-votes”- sent to Inkling Markets by the uninformed traders will be overturned over time as the active and informed traders (the “-market makers”-) go trading on this particular prediction market.
Previous blog posts by Chris F. Masse:
- “Is Clinton’s Pennsylvania Lead Really 20 Points?”
- The Most Surprising Piece Of News I’ve Heard Today
- My first prediction market plugin for WordPress
- Self-Serving Prediction Market Of The Day — Unlawful Internet Gambling Enforcement Act of 2006
- Prediction markets tend to be so illiquid, though, that mere activity looks like volatility.