The Right Coast |
|
Thoughts from San Diego on Law, Politics, and Culture
Right Coasters
Gail Heriot Saikrishna Prakash Michael Rappaport Maimon Schwarzschild Thomas Smith Christopher Wonnell Email Us Gail Heriot Saikrishna Prakash Michael Rappaport Maimon Schwarzschild Thomas Smith Christopher Wonnell Links Andrew Sullivan Atlantic Blog The Buck Stops Here Corporate Law Blog Crescat Sententia Crooked Timber Curmudgeonly Clerk Daniel Drezner En Banc EveTushnet.Com FreeSpace How Appealing Instapundit Law and Econ Blog Little Green Footballs Legal Theory Blog The Leiter Reports Marginal Revolution Overlawyered Pejmanesque ProfBainbridge.Com Punishment Theory Rasmusen Weblog SFA Politics & Relig Southern Appeal SpoonsExperience USS Clueless The Volokh Conspiracy The Yin Blog Archives The Bear Flag League Aaron's Rantblog (LA) Absinthe & Cookies Accidental Jedi (Fres) Angry Clam (LA) Baldilocks BlogoSFERICS (Expat) BoifromTroy (LA) CalBlog (Los Angeles) California Republic Citizen Smash(SD) Cobb (Los Angeles) Daily Pundit (SF) Dale Franks e-Claire(Northern CA) Fresh Potatoes(Orang) Infinite Monkeys The Interocitor (LA) The Irish Lass (Sacra) Left Coast Conserv. Lex Communis (Fres) Master of None (LA) Miller's Time (Sac) Molly's Musings (SD) Mulatto Boy (LA) Howard Owens (Vent) Pathetic Earthlings) Patio Pundit Patterico's Pontifications(LA) PrestoPundit (Orange) QandO Right on the Left Beach Shark Blog (Expat) Slings and Arrows (SD) So. Cal Law Blog (LA) Tone Cluster Window Manager Xrlq (Orange) |
December 09, 2005
I predict a bright future for prediction markets By Tom Smith I am proud to have been named to the board of advisors of the new Washington Stock Exchange. This comes about through the good offices of prediction market legal expert and pal Tom Bell. Thanks, Tom! The WSX is a prediction market for political events, such as the outcome of elections. If laws can be changed to permit these sorts of markets to operate with real money, ordinary people will be able to take positions on political events, and maybe much else besides. Markets have astonishing powers to process information. People should be able to have fun, hedge risks, and contribute to collective knowledge at the same time. There is also a natural synergy between prediction markets and blogs. Bloggers spend a lot of time speculating on what is going to happen. I would think something like 'beating the prediction market' should and maybe someday will give you as much cachet in the blogo-punditocracy (sorry) as beating the S&P 500 gives you in the investing world. |