Suppose that instead of ratings, you asked consumers to vote with dollars. For any movie, a consumer who owns the movie can post an "ask" price and a consumer who does not own the movie can post a "bid" price. To ensure that these prices are real, every once in a while, you would fill all the orders for a particular customer--that is, you would buy the consumers' DVD's at her asking prices and sell her DVD's at her bid prices.Welcome to the club, Arnold.
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Tuesday, July 31, 2007
Kling agrees that prediction markets outperform surveys
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