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Predictocracy
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Predictocracy: Market Mechanisms for Public and Private Decision Making

Michael Abramowicz

Abstract

Predicting the future is serious business for virtually all public and private institutions because they must often make important decisions based on such predictions. This book explores how institutions from legislatures to corporations might improve their predictions and arrive at better decisions by means of prediction markets, a promising new tool with virtually unlimited potential applications. The book explains how prediction markets work; why they accurately forecast elections, sports contests, and other events; and how they may even advance the ideals of our system of republican govern ... More

Keywords: legislatures, corporations, predictions, prediction markets, elections, republican government, decision-making

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780300115994
Published to Yale Scholarship Online: October 2013 DOI:10.12987/yale/9780300115994.001.0001

Authors

Affiliations are at time of print publication.

Michael Abramowicz, author