Google starts an internal futures market
September 26, 2005 5:51 AM Subscribe
Google's Crystal Ball::NYTimes. Quite interesting...Via TechDirt:
Google has created a predictive market system, basically a way for its employees to bet on the likelihood of possible events. Such markets have long been used to predict world events, like election results. Intrade, part of the Trade Exchange Network, allows people to bet on elections, stock market indexes and even the weather, for example.I wonder how accurate the aggregated content of blogs would be to measure the likelihood of prospective real world events? The economist they consulted, Hal R. Varian, has some interesting links on his web page as well. I think that the internet better get their anti-spam technology up to par before we have people "gaming" the future through blogspam. For an explanation of Futures Markets (charts), see this page at the US Commodity Futures Trading Commission.
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