Predictocracy : market mechanisms for public and private decision making / Michael Abramowicz.

Format:

Book

Author/Creator:

Abramowicz, Michael.

Language:

English

Subjects (All):

Business forecasting.

Economic forecasting.

Decision making.

Forecasting.

Physical Description:

1 online resource (1 online resource (xviii, 346 p.) ) ill.

Edition:

1st ed.

Place of Publication:

New Haven : Yale University Press, c2007.

Language Note:

English

Summary:

Predicting the future is serious business for virtually all public and private institutions, for they must often make important decisions based on such predictions. This visionary book explores how institutions from legislatures to corporations might improve their predictions and arrive at better decisions by means of prediction markets, a promising new tool with virtually unlimited potential applications. Michael Abramowicz explains how prediction markets work; why they accurately forecast elections, sports contests, and other events; and how they may even advance the ideals of our system of republican government. He also explores the ways in which prediction markets address common problems related to institutional decision making. Throughout the book the author extends current thinking about prediction markets and offers imaginative proposals for their use in an array of settings and situations.

Contents:

The media

Policy analysts

Businesses

Committees

Regulatory bodies

Administrative agencies

Public corporations

Courts

Legislative bodies

Predictocracy.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references (p. 315-342) and index.

ISBN:

9786612088575

9781282088573

1282088572

9780300144956

0300144954

OCLC:

1013940007