InnovateUs:
Leveraging The Prediction Market
In a traditional stock market stocks are listed for corporations- and people buy and sell these stocks. The decision to buy or sell is based on the percieved performance of the stock in the future. If you think the profits are going to rise you will buy and if you think the profits are on a decline you would sell.
In the InnovateUs Idea Market stocks are listed for ideas and innovations. If you like an idea and you think the idea has a likely chance of getting accepted within your organization, buy the stock for the idea. The better the idea, more stocks you purchase. The total investment in a stock indicates the overall opinion about the idea.
[…] The anonymous Idea creation gave participants the required impetus to freely suggest ideas without fear of embarrassment and negative repercussions. Seeing the opportunity to win some incentives, participants invested their money wisely. In the end, the management ended up with a ton of great ideas and opinions to guide their decisions. […]
Is that “-prediction markets”-, really!??
Is there trading, or just buying? If just buying, then it would be more of a voting or polling mechanism than a market mechanism.
When they say “total investment in a stock indicates the overall opinion,” it sounds like polling.
How do they expire the stocks?