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Five Open Questions About Prediction Markets

Justin Wolfers () and Eric Zitzewitz ()

No 1975, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management – in both the public and private sectors. This paper outlines five open questions in the literature, and we argue that resolving these questions is crucial to determining whether current optimism about prediction markets will be realized.

Keywords: prediction markets; information markets; event futures; political forecasting; prediction IVs (search for similar items in EconPapers)
JEL-codes: C9 D7 D8 G1 M2 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2006-02
New Economics Papers: this item is included in nep-fin, nep-fmk and nep-rmg
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Citations: View citations in EconPapers (10) Track citations by RSS feed

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Working Paper: Five Open Questions About Prediction Markets (2006) Downloads
Working Paper: Five open questions about prediction markets (2006) Downloads
Working Paper: Five Open Questions About Prediction Markets (2006) Downloads
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