Prediction Markets as a Forecasting Tool

  title={Prediction Markets as a Forecasting Tool},
  author={Daniel E. O’Leary},
Internal prediction markets draw on the wisdom of crowds, gathering knowledge from a broad range of information sources and embedding that knowledge in the stock price. This chapter examines the use of internal prediction markets as a forecasting tool, including as a stand-alone, and as a supplement to forecasting tools. In addition, this chapter examines internal prediction market applications used in real-world settings and issues associated with the accuracy of internal prediction markets. 

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