Parimutuel betting markets as information aggregation devices: experimental results

DOI10.1007/s00199-002-0306-7zbMath1053.91046OpenAlexW1998634271MaRDI QIDQ1408948

Winston C. Yang, Jörgen Wit, Charles R. Plott

Publication date: 28 September 2003

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: https://authors.library.caltech.edu/80436/

zbMATH Keywords

laboratoryAsymmetric and private InformationIndividual and group behaviorInformation and uncertainty

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

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Prediction markets, Bayesian priors, and clinical trials ⋮ Two information aggregation mechanisms for predicting the opening weekend box office revenues of films: boxoffice prophecy and guess of guesses ⋮ Parimutuel betting under asymmetric information ⋮ Improving prediction market forecasts by detecting and correcting possible over-reaction to price movements ⋮ Accounting for noise in the microfoundations of information aggregation ⋮ An axiomatic characterization of wagering mechanisms ⋮ Sequential parimutuel games ⋮ The distribution of information and the price efficiency of markets ⋮ Computation in a distributed information market ⋮ Rational exaggeration and counter-exaggeration in information aggregation games

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