Call for Papers on Prediction Markets

The Third International Conference on Prediction and Information Markets will be held in association with Economic Issues and the Journal of Prediction Markets from 3 – 5 April 2011 at the Nottingham Business School, UK.

The theoretical underpinning for the value of prediction markets stems from the view that relevant information concerning the likelihood of future events is dispersed among the opinions and intuitions of many people. The mechanisms underlying prediction markets vary but they all offer a means of aggregating this information. The design of the incentive program is crucial, therefore, as people may invest more thought and energy into expressing their opinion when there's a meaningful incentive to do so.

In recent years, a number of companies have employed these markets as a means of aggregating the information dispersed widely among their employees and customers. As well as improving forecasts of uncertain events, the markets have been used to generate new ideas, to improve resource allocation within firms, to help firms manage risk, and to do all this more rapidly than has been possible with more traditional business mechanisms.

Abstracts with a maximum of 200 words can be sent to Professor Leighton Vaughan Williams by email, by the closing date for receipt of abstracts of Wednesday 15 December 2010. Confirmation of receipt of abstracts will be sent within a maximum of five working days.