10.17.07
Suroweicki on prediction markets
Prediction markets bring together buyers and sellers around a collaborative project that creates the highest level of forecasting. And they don’t need regulatory approval. If the exchange conversation grows, or that in the overall social capital market space grows, it could be a great design tool for how to design the market; asking the crowd but not being hobbled by traditional consensus thinking. Suroweicki’s book Wisdom of Crowds outlines some relatively simple conditions for how to make them work. I’m also on a prediction markets listserve and learn a lot there. He wrote here about it in Forbes.
