Construct · 1 fields · 1 citations

prediction market: a standalone construct

One name. One construct. A landmark on the map.

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Forecasting

a market where contracts pay off on future events, so prices can be read as crowd forecasts of their probability.

In forecasting, prediction market refers to a market where contracts pay off on future events, so prices can be read as crowd forecasts of their probability. This meaning comes from Wolfers (2004) in Journal of Economic Perspectives.[1]

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Nearby constructs

future3 fields · 6 citationsjingle · one word, three constructs market3 fields · 5 citationsjingle · one word, three constructs prediction3 fields · 4 citationsjingle · one word, three constructs

References

Wolfers, J., & Zitzewitz, E. (2004). Prediction Markets. Journal of Economic Perspectives, 18(2), 107-126. https://doi.org/10.1257/0895330041371321

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