Using Information Aggregation Markets for Decision Support

Patrick Buckley ()
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Patrick Buckley: University of Limerick, Ireland

International Journal of Business Research and Management (IJBRM), 2012, vol. 3, issue 3, 133-143

Abstract: Information Aggregation Markets, often referred to as prediction markets, are markets that are designed to aggregate information from a disparate pool of human individuals to make predictions about the likely outcome of future uncertain events. This paper looks at how Information Aggregation Markets can be incorporated into the standard body of decision making theory. It examines how Information Aggregation Markets can be used as decision support systems, and provides empirical evidence from a wide variety of sources as to the effectiveness and practicality of Information Aggregation Markets. Finally, this paper details some future research questions to be addressed in the area of Information Aggregation Markets.

Keywords: Information Aggregation Markets; Decision Making; Decision Support Systems (search for similar items in EconPapers)
JEL-codes: M0 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aml:intbrm:v:3:y:2012:i:3:p:133-143

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