Last week, I wrote some about prediction markets at Desirable Roasted Coffee. These are markets where hundreds, even thousands, of participants, each armed with “some” knowledge, pool their thinking to make better predictions than pollsters, better decisions than “experts”.
(Note: Wikipedia’s Prediction Market article is a good starting place if you want to learn more, as is James Surowiecki’s The Wisdom of Crowds.
But what applications do prediction markets have for business and PR practitioners? The evidence is thin to date, but last week, Google announced it’s using prediction markets to make better internal decisions:
Read the rest of this entry »
