Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62505
Full metadata record
DC FieldValueLanguage
dc.contributor.authorSnowberg, Eriken_US
dc.contributor.authorWolfers, Justinen_US
dc.contributor.authorZitzewitz, Ericen_US
dc.date.accessioned2012-07-31en_US
dc.date.accessioned2012-09-14T11:07:06Z-
dc.date.available2012-09-14T11:07:06Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/62505-
dc.description.abstractPrediction markets - markets used to forecast future events - have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their utilization by economic forecasters. We show that prediction markets have a number of attractive features: they quickly incorporate new information, are largely efficient, and impervious to manipulation. Moreover, markets generally exhibit lower statistical errors than professional forecasters and polls. Finally, we show how markets can be used to both uncover the economic model behind forecasts, as well as test existing economic models.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aDiscussion Paper series, Forschungsinstitut zur Zukunft der Arbeit |x6720en_US
dc.subject.jelC5en_US
dc.subject.jelG14en_US
dc.subject.ddc330en_US
dc.subject.keywordprediction marketsen_US
dc.subject.keywordforecastingen_US
dc.subject.stwWirtschaftsprognoseen_US
dc.subject.stwPrognoseverfahrenen_US
dc.subject.stwBörsenspielen_US
dc.subject.stwTheorieen_US
dc.titlePrediction markets for economic forecastingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn720425751en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

Files in This Item:
File
Size
612.01 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.