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Routledge Prediction Markets: Theory and Applications Book

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Description

Explore the mechanics of the wisdom of the crowd with Prediction Markets: Theory and Applications. This volume from the Routledge International Studies in Money and Banking series examines how speculative markets function as tools for aggregating information. By bringing together disparate pieces of data held by many different individuals, these markets provide a method for making accurate forecasts. This book addresses how prediction markets can assist in forecasting future events on both national and international levels. Beyond large-scale geopolitics, the text explores how companies can use these market structures to gain better estimates for practical business needs, such as determining the potential market size for new products. It is an essential resource for understanding how information aggregation works in modern economic environments.

Key Features

Examines the concept of the wisdom of the crowd and how to effectively aggregate information spread among many individuals.

Analyzes how prediction markets function as speculative tools designed specifically for making accurate forecasts.

Covers applications for forecasting future events at both the national and international levels.

Provides insight into how companies can use these markets to improve estimates for new market sizes.

Part of the Routledge International Studies in Money and Banking series for specialized economic study.

Product Specifications

Format
hardcover
Domain
Amazon UK
Release Date
16 June 2011
Listed Since
03 December 2010

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No barcode data available

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