As far as prediction markets go, you wouldn’t expect to find one in a video game console, but that’s exactly what Nintendo did in the Wii with the Everybody Votes Channel.
Articles Tagged ‘prediction markets’
Introduction to Prediction Markets
Friday, August 14th, 02009
When you gather a suitably diverse group of people together, ask them a question and average their answers, the result tends to be more accurate than the result of any one person including experts. The implication of this, is that the crowd as a whole can make better informed judgements than traditional experts. There just needs to be an ideal way to extract those tiny bits of relative information from individuals in a consistent manner. Enter the prediction market.
