PREDICTION MARKETS HAVE ARRIVED: Bloomberg columnist shames Indias government FOR NOT USING prediction markets to forecast demand.

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WOW. This is big.

Andy Mukherjee:

[…] Finally, demand estimation is too important to be left entirely to experts.

Companies such as Google Inc. are harnessing the power of prediction markets &#8212- which gather information from a large number of participants &#8212- to generate useful forecasts.

There&#8217-s no reason why governments can&#8217-t do the same.

Great idea.

Let&#8217-s shame the 95% of Fortune-500 companies for not using enterprise prediction markets. :-D

  • Shame on you, McDonald&#8217-s, for not using enterprise prediction markets.
  • Shame on you, Nike, for not using enterprise prediction markets.
  • Shame on you, Conquest Capital, for not using enterprise prediction markets.
  • etc. etc. etc. :-D

Previous blog posts by Chris F. Masse:

  • Midas Oracle is only 6 times smaller than Fred Wilson’s blog, “A VC”.
  • The best blogs on prediction markets
  • The New Republic profiles the next Vice President of the United States of America —Jim Webb, maybe.
  • No Trades (other than at the start) —-> Not a reliable predictor, as of today
  • How you should read Midas Oracle
  • The best prediction exchanges
  • “There will be no media consumption left in ten years that is not delivered over an IP network. There will be no newspapers, no magazines that are delivered in paper form. Everything gets delivered in an electronic form.”

Got that hardcover book on my desk, thanks to Steve Roman. Its out in paperback form, today -for small people like you (the readers), who are not famous on the Web, and hence dont get all the free gigs that big bloggers get for free. (((I pity you.)))

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Previous blog posts by Chris F. Masse:

  • Lawsuit aiming at compelling the office of the United States trade representative to produce a copy of its compensation settlement with the European Union over the United States’ withdrawal of gambling services from the General Agreement on Trade in Services.
  • Iraq War = “not necessary”, “a serious strategic blunder” — US News Media = “complicit enablers” in the manipulation of the public (“the propaganda campaign”) — George W. Bush turned away “from candor and honesty when those qualities were most needed.”
  • JASON RUSPINI’S CROCKERY: The Brain states forcefully that they are not “event futures”, but “binary options”. Still, as soon as he premieres prediction markets on tax rates at InTrade, he calls them “tax futures” —of course.
  • Tasmania’s Prime Minister who licenced BetFair Australia departs “abruptly”.
  • Do not pay any attention to Jason Ruspini’s legal ramblings on Midas Oracle. — Do monitor Jason Ruspini’s portfolio of event derivatives, instead.
  • Meet Tom W. Bell, the man who knows the legal difference between “excluded commodities” and “exempt commodities”, and the legal difference between “contracts” and “notes” —but still can’t get himself a gravatar.
  • WEB EXCLUSIVE: What Vernon Smith told the CFTC about the social utility of the event derivative markets —the so-called “prediction markets”

How Midas Oracle got started off…

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Previous blog posts by Chris F. Masse:

  • Excellent article about enterprise prediction markets and Inkling Markets —with a good word for Robin Hanson, who invented MSR.
  • HubDub limitations
  • BetFair Developer Program use Joomla! as their blog software (and CMS).
  • Lawsuit aiming at compelling the office of the United States trade representative to produce a copy of its compensation settlement with the European Union over the United States’ withdrawal of gambling services from the General Agreement on Trade in Services.
  • Iraq War = “not necessary”, “a serious strategic blunder” — US News Media = “complicit enablers” in the manipulation of the public (“the propaganda campaign”) — George W. Bush turned away “from candor and honesty when those qualities were most needed.”
  • JASON RUSPINI’S CROCKERY: The Brain states forcefully that they are not “event futures”, but “binary options”. Still, as soon as he premieres prediction markets on tax rates at InTrade, he calls them “tax futures” —of course.
  • Tasmania’s Prime Minister who licenced BetFair Australia departs “abruptly”.

Google Search thinks that Midas Oracle has more value than the New York Times and Freakonomics when the topic is Googles enterprise prediction markets. How do you like that, Bo? Its cool, no?

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Previous blog posts by Chris F. Masse:

  • Excellent article about enterprise prediction markets and Inkling Markets —with a good word for Robin Hanson, who invented MSR.
  • HubDub limitations
  • BetFair Developer Program use Joomla! as their blog software (and CMS).
  • Lawsuit aiming at compelling the office of the United States trade representative to produce a copy of its compensation settlement with the European Union over the United States’ withdrawal of gambling services from the General Agreement on Trade in Services.
  • Iraq War = “not necessary”, “a serious strategic blunder” — US News Media = “complicit enablers” in the manipulation of the public (“the propaganda campaign”) — George W. Bush turned away “from candor and honesty when those qualities were most needed.”
  • JASON RUSPINI’S CROCKERY: The Brain states forcefully that they are not “event futures”, but “binary options”. Still, as soon as he premieres prediction markets on tax rates at InTrade, he calls them “tax futures” —of course.
  • Tasmania’s Prime Minister who licenced BetFair Australia departs “abruptly”.

STEVE LEVITTS FREAKONOMICS HIJACKED BY HACKER – FAMOUS ECONOMICS BLOG TEMPORARILY DEFACED – ANTI-SPORTS BETTING BILE VOICED

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Freakonomics, the famous blog on economics, is powered by WordPress, which is known [*] to have grave security vulnerabilities. Yesterday, a dangerous hacker managed to get access to their blogging software, and published an opinion on the regulation of prediction markets, which represents the total opposite of what Steve Levitt believes in. No doubt the hacker (who signed as &#8220-The Australopithecus&#8220-) will get caught by the Police. No doubt Steve Levitt will get out of his torpor soon and re-establish the truth. We will then give airtime to Steve Levitt&#8217-s arguments, on Midas Oracle. We&#8217-re with you, doctor Levitt.

[*] I know that for a fact. Midas Oracle was hijacked yesterday by a dangerous hacker who signed as &#8220-The Barbecue&#8221-. I&#8217-m not responsible for what he said.

When Chris Masse (with typo) pinches Henry Blodgets nose

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Previous blog posts by Chris F. Masse:

  • We could use a US Gambling And Betting Commission, but the best would be to have prediction exchanges (modeled after BetFair) that alert the sports bodies about any suspicions.
  • Did Patri Friedman misread BetFair?
  • BetFair makes the frontpage of the New York Times –as the White Knight of sports. — Note that the term “prediction markets” is never pronounced. — TradeSports is not mentioned, but the last paragraph of the article suggests that all Internet sports betting should be legal and regulated.
  • In the prediction market timeline, it’s 00:05 am. The most interesting developments of the field of prediction markets are yet to come. Join the Midas Oracle Project.
  • How Midas Oracle got started off…
  • Google Search thinks that Midas Oracle has more value than the New York Times and Freakonomics when the topic is Google’s enterprise prediction markets. How do you like that, Bo? It’s “cool”, no?
  • Using Prediction Markets to Track Information Flows: Evidence from Google — VIDEO — Bo Cowgill on Google’s enterprise prediction markets — O’Reilly Money:Tech