How Decision Markets Work (with emphasis on Iowa Electronic Markets)

24 de octubre de 2007   | Vistas: 1310 |  

About this video

The main difficulty in developing efficient public policies is misinformation and false beliefs. The traditional information institutions are the media academics, and informal communications. These institutions have limitations in providing reliable, efficient, useful and enough information to make decisions. Speculative markets base their profits on the prediction of price patterns and are proving to be an efficient information institution. Betting markets have been better and faster predictions than experts because manipulators develop more accurate information. Therefore, speculative and betting markets have to become the central institution on political institutions in order to have effective public policies.



Credits

How Decision Markets Work (with emphasis on Iowa Electronic Markets)
Robin Hanson

Business School Building, EN-503
Universidad Francisco Marroquín
Guatemala, October 24th 2007

New Media - UFM production. Guatemala, October 2007
Camera: Manuel Alvarez; digital editing: Adrián Méndez; index and synopsis: Christiaan Ketelaar; publication: Mario Pivaral 


IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín