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== Introduction == | == Introduction == | ||
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| + | === Prediction Markets in Context === | ||
| + | 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. | ||
== What are Prediction Markets used for? == | == What are Prediction Markets used for? == | ||
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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. | 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. | ||
| - | == | + | == In what setting are they used? == |
| - | + | ||
== Online Markets and Platforms == | == Online Markets and Platforms == | ||
