Virtual Markets

Prediction markets (also known as predictive markets, information markets, decision markets, idea futures, event derivatives, or virtual markets) are speculative markets created for the purpose of making predictions. The current market prices can then be interpreted as predictions of the probability of the event or the expected value of the parameter. For example, a prediction market security might reward a dollar if a particular candidate is elected, such that an individual who thinks the candidate had a 70% chance of being elected should be willing to pay up to 70 cents for such a security.
Posts about Virtual Markets
  • The Democratization of Local Commerce and the Future of Physical Exchange

    … — or, as Malik put it, democratized. In a three-part series this week, I will detail the declining value of brand in selling locally, and then offer an explanation of why software will replace the chain and franchise model that has dominated the retail industry since the second world word. The result is a shift that will parallel the flattening already at work in information industry, but could shape the look – both figurative and literal — of the physical world. Steven Jacobs is Street Fight’s deputy editor. …

    Steven Jacobs/ Street Fightin Facebook YouTube- 4 readers -
  • In Apple Pay, Signs of a Digital (Payments) Divide

    … near field communication (NFC). To understand Apple Pay, it’s important to look at the viability of each scenario within their respective markets. The ecommerce market, where the virtual payments would be made, is still relatively young. Online, critical institutions such as payments remain not only inefficient — but structurally incomplete…

    Steven Jacobs/ Street Fight- 13 readers -
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