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InTrade floats Dominique Strauss-Kahns life. – [PREDICTION MARKET]

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InTrade:

New Prediction Market: Dominique Strauss-Kahn
Tuesday, May 17, 2011

On May 16th 2011 Dominique Strauss-Kahn appeared in New York City Criminal Court and was charged with two counts of a criminal sexual act in the first degree , first-degree attempted rape, first-degree sexual abuse, second-degree unlawful imprisonment, forcible touching, and third-degree sexual abuse. These seven charges are detailed in the criminal court complaint found HERE.

Intrade has opened a market for Dominique Strauss-Kahn to be found guilty of, or plead guilty to, at least one of the charges laid against him. This market can be found under Legal &gt- D. Strauss Kahn.

Market Rules:

This contract will settle (expire) at 100 ($10.00) if:

– Dominique Strauss-Kahn is found guilty of at least one of the seven counts in a trial by jury or judge
&#8211- Dominique Strauss-Kahn pleads guilty to at least one of the seven counts

The contract will settle (expire) at 0 ($0.00) if (including, but not limited to):

– Dominique Strauss-Kahn is found not guilty of all seven counts in a trial by jury or judge
– All counts are dropped
– The case is dismissed
– A mistrial is declared (for all counts)
– Dominique Strauss-Kahn pleads guilty to lesser charges only as part of a plea agreement (please note that if Strauss-Kahn pleads guilty to any of the original charges as part of plea agreement the contract will expire at 100)

This market covers only the charges covered in the complaint. Any other criminal or civil cases will not be considered when expiring this market.

The contracts will be paused if possible when a verdict is about to be announced and will be expired as soon as that decision is made public.

The end date on the contract is for indication purposes only. This date may be extended if necessary.

Any changes to the result after the contract has expired will not be taken into account &#8211- Contract Rule 1.4

Due to the nature of this prediction market contract you are obligated to read Contract Rule 1.7 (Unforeseen Circumstances) and Contract Rule 1.8 (Time Protection). Intrade may invoke these rules in its absolute discretion if deemed appropriate.

Please contact the exchange by emailing [email protected] if you have any questions regarding this contract or interpretation of these contract specific rules, related exchange news articles or exchange rules before you place an order to trade.

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Tristane Banon et AgoraVox: retour sur une&#8230- par AgoraVox

Prediction markets: Sticking to the letter of the contract VERSUS Interpreting intent

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Chris Hibbert (of Zocalo):

I disagree, Chris. Much experience on FX has shown that interesting questions (those that aren’t routine repetitions of previous questions) often result in realities that diverge from the obvious expectations of nearly everyone involved in describing the possibilities. In those situations, we’ve found that trying to interpret intent leads to more confusion than sticking to the letter of the question as asked.

If a [prediction market] sticks to its written description of what the claims mean, then careful readers are rewarded, and they learn that they have a good chance to predict how the judge will interpret the question and events in the world. If questions are determined based on “intent”, then everyone has to spend time deciding which aspect of the question the judge will decide was more important, when reality decides not to conform to the question’s expectations.

Sometimes (as you argue was the case with the North Korea question) the result is surprising and disappointing, but choosing the other approach leads to much less participation as people who see that something surprising is preparing to happen or has happened back out of their bets rather than waiting to find out what the judge decides is important. I’m much happier when the participants spend their time figuring out what will happen in the world, rather than when they have to spend their time predicting how the judge will react. Strict construction gives us a predictable world.

See also Jason Ruspini&#8217-s comment on the same topic&#8230-