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== How To Get Rid Of Stretch Marks ==
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'''Welcome to the Prediction Markets wiki of the Graduate School of Management, University of Haifa'''
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Stretch marks can be a typical section of teenage life for the majority of young ladies and guys. Each time a individual develops as well as benefits fat awfully fast (like in the course of teenage life), that person can get wrinkles on your body called stretch marks.
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This wiki grows out of ongoing research work in the field of Prediction Markets and Collective Intelligence which is performed at the [http://mba2.haifa.ac.il/index.php/english- Graduate School of Management] of the [http://www.haifa.ac.il/index_eng.html University of Haifa], under the supervision of Prof. [http://rafaeli.net/ Sheizaf Rafaeli] and [http://gsb.haifa.ac.il/~draban/home/ Dr. Daphne Raban]. At its core lies a mapping of domain vocabulary to market implementations which is presented in a paper ''"P-MART: Towards a Classification of Online Prediction Markets"'', currently under review.
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The wiki is structured as a cross reference of '''[[:Category:Markets|Prediction Market implementations]]''' and '''[[:Category:Market properties|market attributes]]'''. The description of each market is contained in a separate wiki article and tagged with its attributes (in the form of wiki categories). In this way it is possible to view the property of each market, and access any market from any of its market property. It is also possible to access all markets and market properties from the sidebar. In the main page you will find an overview of the Prediction Markets classification, where each of the market attribute is listed in '''bold''' and links to its category page.
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The objective of this wiki is to act as a knowledge repository for researchers and practitioners in the field of Prediction Markets. True to our belief in the value of collaboration we encourage you to contribute to this wiki. It is expected that through on-going contribution the domain vocabulary will be fine-tuned as the domain knowledge expands, and the implementation repository will grow as new examples emerge. Contributors need to register first. In order to maintain the structure of this wiki please follow [[Editing guidelines|editing guidelines]].
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Stretch marks take place if the pores and skin can be drawn simply by speedy growth as well as extending. Even though the pores and skin is usually relatively supple, when it is overstretched, the normal manufacture of bovine collagen (the key health proteins that makes inside the connective tissue inside your pores and skin) is disrupted. As a result, scars named stretch-marks may well form.
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For more details contact [[User:Dorit.Geifman|Dorit Geifman]]
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== Introduction ==
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We can trace the origins of the Prediction Markets concept to the works of [http://en.wikipedia.org/wiki/Friedrich_Hayek Friedrich Hayek], the winner of the Nobel Prize in Economics, and a social and political philosopher. Hayek claimed that the price mechanism serves to share and synchronize local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization.
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We are now starting to witness the proliferation of Information Markets into the corporate decision-making environment. One of the pioneering organizations to use Prediction Market as an internal decision-support tool is Hewlett Packard, which is using it as a sales forecasting tool. Intel too is using Information Markets for managing products forecast and production plans. There is evidence that many other organizations like Google, Eli Lilly and Microsoft are jumping into the water, but most of this activity is still in an experimental stage. Organizations are still trying to figure out the kind of incentives to be used, how to make sure that established hierarchies are not threatened and how to maintain a cost effective process etc.
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In case you are recognizing stretch-marks on your own physique, individuals are. Nearly all women and females get stretch marks, that have a tendency to display on the breast tissue, thighs, hips, and also bottom. A lot of women get them while pregnant. And while they may be more established in women, men can get stretch marks, too.
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== What are Prediction Markets used for? ==
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Prediction Markets are used to reveal, and aggregate information and opinion from dispersed audiences by utilizing the mechanism of financial markets. Implementations of Prediction Markets address the following goals:
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* '''[[:Category:Aggregate information|Aggregate information]]''' - collect factual, unknown information which is segmented and / or scattered
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* '''[[:Category:Predict|Predict]]''' uncertain future events
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* '''[[:Category:Elicit opinion|Elicit opinion]]''' - obtain and evaluate preferences or new ideas from a large and distributed group of people
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Prediction Markets cover a wide range of topics. These may be in the areas of '''[[:Category:Current or recreation events|Current or recreation events]]''', '''[[:Category:Business topics|Business topics]]''', '''[[:Category:Policy issues|Policy issues]]''', '''[[:Category:Synthetic events|Synthetic events]]''' etc.
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== In what setting are markets used? ==
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Prediction markets are implemented in a variety of environments
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* '''[[:Category:Public domain markets|Public domain]]''' – open to the general public. May take the form of stand-alone web-sites e.g. [[Intrade]] or add-ons to larger web-sites e.g. [http://www.ftpredict.com/ FTPredict] of the Financial Times.
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* '''[[:Category:Corporate|Corporate]]''' - may be internal, limited to the employees, or external, open to other stakeholders such as customers or suppliers
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* '''[[:Category:Laboratory|Laboratory]]''' – a closed and controlled environment, set up specifically for academic experiments
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* '''[[:Category:Field experiment|Field experiments]]''' – controlled experiments in real-world settings
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== How do Prediction Markets work? ==
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Prediction Markets differ in their internal design, operational model and structure of assets. In this section we will provide an overview and references for more detailed information.
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Those who are fat usually have stretch-marks. Muscle builders are given to receiving scars as a result of rapid entire body adjustments in which bodybuilding may generate. <span class="plainlinks">[http://xstretchmarks.com <span style="color:black;font-weight:normal; text-decoration:none!important; background:none!important; text-decoration:none;/*CITATION*//*TOS9P5Z75T*/">stretch marks</span>]</span> can also occur if an individual utilizes steroid-containing skin color products as well as ointments (for example hydrocortisone) for more than a few weeks, as well as has to acquire substantial amounts of dental adrenal cortical steroids with regard to months as well as longer.
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=== Market models ===
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The mechanism behind the market exchange and pricing may be:
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* '''[[:Category:Continuous Double Auction (CDA)|Continuous Double-Auction (CDA)]]''' - buyers bid prices up and sellers bid prices down until a consensus is reached. CDA can be implemented with or without an automatic market maker.
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* '''[[:Category:Market Scoring Rules (MSR)|Market Scoring Rules (MSR)]]''' – all traders can continuously update their score rating i.e. the estimates of the probabilities of the event, and the underlying pricing function calculates the new probabilities (price). The model implements an automatic market maker.
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* '''[[:Category:Dynamic Pari-Mutuel (DPM)|Dynamic Pari-Mutuel (DPM)]]''' – in a pari-mutuel model, all bets are placed in a pool which is later divided between the winners. This model takes the form of a continuous pari-mutuel system.
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=== Security types ===
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The security type defines the payoff model. It can be one of the following:
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* '''[[:Category:Winner-takes-all securities|Winner-takes-all]]''' – the security is cashed out at a predefined price if its underlying event occurred, and is nullified otherwise. This model has been the most commonly used for binary (Yes / No) or multiple-option contracts.
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* '''[[:Category:Index securities|Index]]''' – also known as linear security. In this case the price of the security reflects the estimated value of the outcome and its payoff is tied to the actual outcome of the event.
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* '''[[:Category:Volume Weighted Average Price (VWAP)|Volume-Weighted Average Price]]''' – the security is cashed out according to its average price weighted by transaction volume in X days prior to its expiration date. This method is used mostly in idea / opinion markets, when there is no absolute truth that can be used as a reference for cashing out the market
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* '''[[:Category:Conditional securities|Conditional]]''' – the outcome of these securities is evaluated according to a combination of events i.e. the security pays $1 if some event happens conditionally to the occurrence of some other event.
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In the beginning, scars might show up because crimson or even purple traces that may seem indented and have a different structure from your encompassing skin. Luckily, stretch-marks frequently switch brighter along with nearly fade away over time.
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=== Trading currency ===
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Trading may be executed through the use of '''[[:Category:Real-money|Real-money]]''', i.e. trader’s money or play-money with a well defined monetary exchange rate, or '''[[:Category:Play-money|Play-money]]''', which is not directly tied to the final reward.
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=== Trading funds ===
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The source of the funds which are available to the traders may be:
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* '''[[:Category:Limited own funds|Limited own]]''' – traders invest their own money, but the amount is limited by the market institution
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* '''[[:Category:Unlimited own funds|Unlimited own]]''' – traders invest their own money and the amount is unlimited
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* '''[[:Category:Initial capital endowment|Initial capital endowment]]''' – traders are endowed by market institution with initial capital, usually play-money.
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* '''[[:Category:Initial securities endowment|Initial securities endowment]]''' – traders' accounts are initialized with a number of securities.
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=== Market size and duration ===
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The market size is defined by the number of ''active'' traders during market activity period. This may range from '''[[:Category:Small size markets|small]]''', 15 or less, through '''[[:Category:Medium size markets|medium]]''' – 15 – 50 traders, to '''[[:Category:Large markets|large]]''' – larger than 50, common in public markets but can also be found in corporate settings
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Nevertheless the idea that scars normally reduce and grow less noticeable after a while can be little comfort and ease if you plan to invest most of your summer time in a bathing suit.
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Markets should be open as long as new information streams in, whether information that is exogenous to the market or information that is inferred from market price, and as long as the actual outcome is yet unknown. Here their duration is arbitrarily defined as:
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* '''[[:Category:Short duration|Short]]''' – does not exceed one day, in a laboratory setting usually lasts a few minutes
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* '''[[:Category:Medium duration|Medium]]''' – a few days, does not exceed one week
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* '''[[:Category:Long duration|Long]]''' – longer than a week
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* '''[[:Category:Variable duration|Variable]]''' – the market closing date is defined ad-hoc, and is dictated by the topic of the market and the external events which affect the subject of trade.
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=== Interaction means ===
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Does the market platform or trading procedure enable complementary information exchange between traders?
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* '''[[:Category:No interaction|No interaction]]''' – platform does not facilitate interaction among traders. Traders are instructed to refrain from off platform interaction.
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* '''[[:Category:On-platform interaction|On-platform]]''' – the platform provides for online interaction means such as chat or forums.
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* '''[[:Category:Off-platform interaction|Off-platform]]''' – traders may exchange views outside the market about the events being traded.
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== The traders ==
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The traders may '''[[:Category:Self-selected traders|self-select]]''' to join the trading activity, usually when they perceive themselves knowledgeable or interested in the topic of the market. Alternatively, they may be '''[[:Category:Invited traders|invited]]''' by the market owner according to the estimated potential of their contribution and expertise.
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Here are some things to consider if you wish to help to make scars much less apparent:
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The traders may be '''[[:Category:Stakeholders|stakeholders]]''', having vested interest in the outcome of the event being traded, or they may have '''[[:Category:No-stake in outcome|no-stake in the outcome]]''', being fully neutral with respect to the outcome.
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The information which is available to the group of traders may be '''[[:Category:Perfect information|perfect]]''', i.e. the all information which is needed exists but is private to a subset of the traders, '''[[:Category:Complete information|complete]]''', i.e. each trader only holds uncertain or incomplete information but the combination of the information which is accessible to all traders forms a complete picture of the subject of trade, or '''[[:Category:Incomplete information|incomplete]]''', the available information, private or public, contains a variable level of uncertainty.
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== Why do traders participate? ==
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Market institutions use a variety of incentive schemes in order to encourage participation. These may take the following forms:
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* '''[[:Category:Performance incentive|Performance]]''' - payoffs are directly tied to the performance of the trader, i.e. gains profits from trading.
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* '''[[:Category:Performance-rank incentive|Performance rank]]''' – reward is associated with the rank of the trader in the descending list of performance.
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* '''[[:Category:Participation incentive|Participation]]''' – reward is tied to participation. Can be associated with participation level or drawn by lottery.
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* '''[[:Category:Contribution incentive|Contribution]]''' – participants are rewarded for their contribution to the marketplace, e.g. creation of new markets.
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The traders may be awarded a '''[[:Category:Monetary reward|cash]]''' payment, a material, non-monetary '''[[:Category:Gift reward|prize]]''', '''[[:Category:Bonus shares reward|bonus shares]]''' or an intangible reward such as '''[[:Category:Reputational reward|increased reputation]]''' or '''[[:Category:Intrinsic reward|intrinsic satisfaction]]'''.
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Many people realize that self-tanners along with self tanning treatments (the two over-the-counter ointments as well as atomizers and in-salon programs) might help conceal stretchmarks. This won't work with standard tanning as well as suntanning furniture, although, because <span class="plainlinks">[http://xstretchmarks.com <span style="color:black;font-weight:normal; text-decoration:none!important; background:none!important; text-decoration:none;/*CITATION*//*H7MHB1HV5M*/">stretch marks</span>]</span> are unlikely to be able to bronze. In addition to being everybody knows, the sun as well as suntanning beds accomplish more harm than good in relation to the particular long-term well being of your skin.
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== Is the market outcome accurate? ==
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== Does traders' behavior affect market accuracy? ==
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=== Manipulation ===
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Additionally you can find body cosmetics matched for the firmness of your skin that may create <span class="plainlinks">[http://xstretchmarks.com <span style="color:black;font-weight:normal; text-decoration:none!important; background:none!important; text-decoration:none;/*CITATION*//*VQF5IJPWEP*/">stretch marks</span>]</span> basically hidden. Although some people might suppliers make these types of cover-up goods water-resistant, make-up may not be the best remedy when you'll be investing lots of time in water.
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=== Judgment biases ===
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== Resources ==
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Talking about pool as well as seaside time, the good thing is that present manner prefers numerous types of bikinis which just happen to conceal scars. "Boy short" type accommodates (favored by numerous players they do not experience way up every time a person movements) work well for camouflaging stretchmarks for the rear as well as thighs and leg. And because several swimmers choose high-neck swimsuits, which can disguise scars inside the upper body place, you will find typically a great deal of styles to select from.
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=== References & Bookmarks ===
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* [http://del.icio.us/doritgsb/predictionmarkets del.icio.us Prediction Markets tag] - various bookmarks on the topic.
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* [http://www.midasoracle.org/predictions/exchanges/ Prediction Exchanges] - a list from Midas Oracle .Org
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* [http://www.forecastingprinciples.com/PM/ Special Interest Group on Prediction Markets] - International Institute of Forecasters, IIF
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* [http://www.crowdworx.de/de/news/crowdworx-library CrowdWorkx]
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Nevertheless, there are a lot of products and also other skin products available on the market claiming to reduce scars, the reality is that nearly all are unproductive and often costly. You simply can't create stretchmarks go away totally without the assistance of the health-care professional (a physician which focuses primarily <span class="plainlinks">[http://xstretchmarks.com <span style="color:black;font-weight:normal;text-decoration:none!important;background:none!important; text-decoration:none;/*CITATION*//*63XBQWPG59*/">how to get rid of stretch marks</span>]</span> on dealing with epidermis difficulties) or perhaps cosmetic surgeon. These kind of medical professionals may use one of several programs : through actual surgical treatment in order to techniques for instance microderm as well as laser skin treatment : which slow up the appearance associated with stretchmarks.
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=== Books ===
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* '''Abramowicz, M.''' (2008). ''Predictocracy: Market Mechanisms for Public and Private Decision Making.'' Yale University Press.
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* '''Surowiecki, J.''' (2004). ''The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations.'' Doubleday.
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=== Wikis & Blogs ===
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* [http://en.wikipedia.org/wiki/Prediction_market Wikipedia on Prediction Markets]
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* [http://crowdcast.com/wordpress/ Crowdcast Corporate blog]
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* [http://blog.mercury-rac.com/ Mercury's Blog] - Jed Christiansen's blog
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* [http://blog.inklingmarkets.com/ Inkling Corporate blog]
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* [http://www.midasoracle.org/ Midas Oracle] - Chris F. Masse's blog
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* [http://blog.oddhead.com/ Oddhead Blog] David Pennock's blog]
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* [http://www.overcomingbias.com/ overcomingbias] - Robin Hanson's blog
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* [http://torontopm.wordpress.com/ Toronto Prediction Market Blog] - Paul Hewitt's blog
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These techniques are costly and therefore are not really typically recommended for folks within their teenage decades as they are not concluded growing and stretchmarks will probably minimize with time anyhow.
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=== Research Data ===
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Public exchanges that open their data for academic research
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* In [http://www.biz.uiowa.edu/iem/archive/index.html Iowa Electronic Markets (IEM)] you can find historical data and research papers.
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* In [http://www.tradesports.com/data/ TradeSports] you can gain access to historical data (2004-2006), mostly sports, some political and entertainment.
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== Glossary ==
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* '''Ask (הוראת מכירה)''' - an order to sell a specified number of contracts at a specified price over a specified number of days
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* '''Bid (הוראת קניה)''' - an order to buy a specified number of contracts at a specified price over a specified number of days
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* '''Contract (חוזה)''' - the financial instrument being traded in the markets. It is the trading unit and is uniquely defined by a name, ''fundamental'' and ''expiration date''.
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* '''Exchange (בורסה)''' - a set of ''markets''.
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* '''Expiration date (תאריך פקיעה)''' – a pre-specified date, or a date of an event, at which the ''liquidation value'' of the ''contract'' is calculated.
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* '''Fundamental''' – a set of statistics which can objectively be measured
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* '''Liquidation value (שווי מימוש)''' – the value of the ''contract'' calculated based on the value of the ''fundamental'' on the ''expiration date''.
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* '''Market (שוק)''' - a set of trading rules, traders, information and ''portfolios'' with a common area of interest.
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* '''Portfolio (תיק נכסים)''' - a set of ''contracts'' based on the same ''fundamental'' and ''expiration date''.

Revision as of 05:28, 5 October 2011

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