Prediction Markets: Distilling Collective Wisdom
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
A Brief History of Prediction Markets
While the idea of prediction markets and the ability of groups to predict the future more accurately than individual experts is widely accepted today, this was not always the case. For example, in the eighteenth century, people had little confidence in the judgment of crowds...
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