Prediction Markets:Theory, Operation and Application

  • Li Guoqiu ,
  • Lv Bin
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  • 1. Competitive Intelligence Studio of Shanghai University, Shanghai 200444;
    2. Intelligence Study Centre of Shanghai University, Shanghai 200444

Received date: 2013-11-30

  Revised date: 2013-12-19

  Online published: 2014-01-05

Abstract

Prediction market was a new form of market, appearing at the end of last century. It achieved the forecasting through the trading of the concept futures. It has been widely used in the prediction of electoral politics, economic, business competition, science and technology, law and other fields. It has also been used as the tools and platforms for decision-making, evaluation, and creative activities. This paper tried to give a comprehensive overview of the development and current status of the prediction markets, its mechanism, its theoretical basis, and the accuracy of the prediction market. At last, the paper discussed the prospects of this field, and highly suggested to study the applications of predication markets.

Cite this article

Li Guoqiu , Lv Bin . Prediction Markets:Theory, Operation and Application[J]. Library and Information Service, 2014 , 58(01) : 54 -71 . DOI: 10.13266/j.issn.0252-3116.2014.01.009

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