Predictive Markets - Can't Wait Until 2008
Submitted by greggles on
Predictive Markets
Predictive Markets are a really neat idea. Basically, you let knowledgable people bet on the likelihood of a particular event happening: Bush getting re-elected, 10 inches of snow falling in one day on New York City by 2008, or Nikki letting me buy a new computer this year. Then the price of the contract for that particular event will then reflect the collective knowledge of the community about that event. If you have something that is hard to analzye or hard to predict, this is a great way to get a fairly reliable answer.
Greed is good
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