Should research scientist David Pennock lead the Prediction Market Institute?

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Should we create a Prediction Market Institute?

– Should we ask doctor David Pennock to super-head it?

– Should we have a Prediction Markets Consortium that will anchor itself somewhere in an educational institution or non-profit foundation?

– Should we follow the ideas of Chris Masse, or should we follow someone else with better ideas?

Should we let the non-PM companies (Google/Yahoo!/MicroSoft) dictate to us the founding terms of this Prediction Market Institute?

– Shouldn&#8217-t the public prediction exchanges (InTrade, BetFair, HedgeStreet, Hollywood Stock Exchange, HubDub, NewsFutures, etc.) be more involved into the founding of this Prediction Market Institute?

– Should we let David Pennock rename &#8220-The Open Institute Of Prediction Markets&#8221- into a &#8220-Prediction Market Institute&#8221- without my prior agreement? :-D

The Open Institute Of Prediction Markets

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I am (finally) finished writing up the mission statement of The Open Institute Of Prediction Markets.

I have asked Mike Giberson, Mike Linksvayer, and (of course) David Pennock, to give me feedback, so I can see whether I am on the right track or not. If it&#8217-s the case, and once I have integrated their feedback, I will show it to 3 other prediction market luminaries, and so forth, until an ethereal sense of perfection emerges out of it. (Could take weeks.)

Stay tuned.

PS: Google is forbidden to snatch that &#8220-mission&#8221- webpage, don&#8217-t ever think of trying to read the cached webpage.

UPDATE: Got feedback. Need to work on it.

The Open Institute Of Prediction Markets

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A short post to thank all the people who e-mailed me to assure me of their support for this long-term endeavor.

There are so many luminaries and organizations who have said they were &#8220-interested&#8221- by this institute project that I am starting to think that this idea just can&#8217-t fall apart &#8212-the expectations are now too high, and our duty to the next generations is to succeed.

That said, I don&#8217-t have yet the first cent for this institute, and 2009 will undergo the worst economic recession in our lifetime &#8212-but who cares about the harsh reality, as long as we have sweet dreams. :-D