Confab.Yahoo.

December 4, 2006

Yahoo anncounced the first event of an open micro-conference series:

“We started confab.yahoo because we want to push the web and its applications up to the next level. After slightly more than a decade, we as an industry have only scratched the surface of the web’s potential. The opportunities are virtually infinite, and we aim to bring together the people that can inspire the next generation web.”

Prediction Markets: Tapping the Wisdom of Crowds

Prediction markets are speculative markets created for the purpose of making predictions. Assets are created whose final cash value is tied to a particular event (e.g., will the next US president be a Republican) or parameter (e.g., total sales next quarter). The current market prices can then be interpreted as predictions of the probability of the event or the expected value of the parameter. Other names for prediction markets include information markets, decision markets, idea futures, and virtual markets. (Wikipedia, Prediction Market).

Posted in Innovation, Web