Citation

Discussion Paper Details

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Title: Five Open Questions About Prediction Markets

Author(s): Justin Wolfers and Eric Zitzewitz

Publication Date: March 2006

Keyword(s): event futures, information markets, instrumental variables, market manipulation, prediction IV and prediction markets

Programme Area(s): Labour Economics and Public Economics

Abstract: Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature, and we argue that resolving these questions is crucial to determining whether current optimism about prediction markets will be realized.

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Bibliographic Reference

Wolfers, J and Zitzewitz, E. 2006. 'Five Open Questions About Prediction Markets'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=5562