I am stumbled this evening upon a blog entry from Prof. Dr. Andrea Back in her blog BackonTheFuture. I stick on this topic for quite a time now, since a good friend of mine has begun to write his master thesis about prediction markets.
But recently the topic became more relevant, since it has been discussed in the light of the american presidential elections and the forecasts. This has been an interesting topic not only because of the accuracy of prediction markets, but also since the two most known candidates have used the web completely different. You will find a few more posts about this special aspect of prediction markets or collective intelligence in the blog mentioned above.
What fascinated me today was the fact, that there are several tools out there in the web now, which we can use as private users and benefit from the huge pool of knowledge in the internet. So this is one of the more fascinating aspects of the so called "Web 2.0".
Continue reading Betting on the Future: Prediction Markets.
