Prediction Markets as Forecasting Tools: From Google to the U.S. Elections |
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Do you have a hunch about who will be the next U.S, president? Do you want to bet on it? It is very easy, go to the Wall Street Journal Political Market website and play. The WSJ Political Market is an exchange marketplace where traded “stocks” are political or economic outcomes and the currency is imaginary. There you can trade on political issues such as the next President or on economic ones, such as the U.S. going into recession or the Fed Funds rate being lower than 1% at the end of 2008.
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