Wednesday, December 20, 2006

Betocracy - Harness the Power of Prediction Markets

Betocracy will allow you to create your own market bids and predict the outcome of events such as the 2008 elections or year end bonuses.

Decision markets, otherwise known as prediction markets, idea futures or simply bets, are gaining visibility as an important forecasting tool.

Theoretically, the bets themselves can serve as a decision-making tool for CEOs and decision makers as long as the there are enough ongoing bets. The concept is based on the theory of prediction markets created by Servan-Schreiber, Wolfers, Pennock and Galebach.

Betocracy (Bet + Democracy) was created by Israeli entrepreneur Yaron Koren with the goal of aggregating the opinions of groups by letting visitors bid points (rather than cash) on future events.

Create your own prediction market anonymously and for free - no programming knowledge is required. Most recent markets created include the Democratic Nomination in 2008 and Second Life Stock exchange predictions.


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