An Axiomatic View of the Parimutuel Consensus Wagering Mechanism Paper 4057

  • Published 2018

Abstract

We consider an axiomatic view of the Parimutuel Consensus Mechanism (PCM) defined by Eisenberg and Gale [1959]. The parimutuel consensus mechanism can be interpreted as a parimutuel market for wagering with a proxy that bets optimally on behalf of the agents, depending on the bets of the other agents. We show that the parimutuel consensus mechanism uniquely… (More)

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