Zocalo: An Open Source Toolkit for Prediction Markets

Date: August 09 2006

Location: Palo Alto, California, USA

Website: http://www.sdforum.org/SDForum/Templates/CalendarEvent.aspx?CID=1952&mo=8&yr=2006

About This Event

Prediction Markets are a 15-year old idea that have been getting attention recently for their ability to provide improved and continuously updated forecasts. Participants back their estimates of the likelihood of different outcomes with real or play money. The incentives reward honesty, insight, and information sharing. The result is a projection that accounts for the strengths of different opinions, and attends to contributions from people whose opinions would be ignored by polls, focus groups, or official forecasting departments.

These markets are being used in a variety of contexts, including sports betting, predicting Hollywood box office returns, and projecting the spread of infectious diseases.

Chris Hibbert will show that Prediction Markets would be a valuable addition to any organization that wants to know more about what the employees are doing or what the customers want.

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http://www.sdforum.org/SDForum/Templates/CalendarEvent.aspx?CID=1952&mo=8&yr=2006

Tags

business, engineering, enterprise, open source, prediction markets