The question that might well embarass David Pennock and Lance Fortnow

No Gravatar

What is the usefulness of as compared to the usefulness of ??

Answer attempts here.

NEXT: Polls versus Prediction Markets &#8212- Lance Fortnow Edition

5 thoughts on “The question that might well embarass David Pennock and Lance Fortnow

  1. David Pennock said:

    In the recent past, the accuracy of (meaning TradeSports/InTrade) has been greater than

  2. Chris F. Masse said:

    Does this performance in accuracy comes from the days just before Election Day?…..n-markets/

    If yes, then why should we ask the public to look at the prediction markets in early September? We should tell them to take a look at the end of October, only.

  3. Michael Giberson said:

    Chris, I don’t get why you seem to be puzzling over the relationships between polls and prediction markets, since it seemed to me that you already had a good understanding.  Namely, that the prediction markets feed on the polls and on other news, data, rumor and what have you.

    Traders are omnivorous, as a group they seek out and digest a wide range of information.  Polls form some of the best material to feed on, especially if the poll was conducted well and the trader understands the nature of the poll.  (For example, not every poll is an attempt to predict an election — a poll may wish to survey a broad range of citizens, not just likely voters. A smart trader would want to sort out these details before acting on the poll results.)

    But I’m sure I’ve formed my view on the matter by reading you early in the 2008 primary season, when I decided that you had the right idea. Have you changed your mind (or are you just acting the provocateur)?

  4. Chris F. Masse said:

    I agree with all that, Doctor Michael, but I am trying to go beyond that. I am trying to understand what could be a good prediction market analysis (see what Lance Fortnow’s take on the electoral college prediction markets), and what to do with that analysis, after that.

    I’ll try to ask questions differently, next time.

  5. State Polls versus Electoral College Prediction Markets | Midas Oracle .ORG said:

    […] PS: The discussion about this post goes on in the comment area of another post. […]

Leave a Reply

Your email address will not be published. Required fields are marked *