Scoop has an Ethical Paywall
Betting puts peoples’ money where their mouth is
Betting on likelihood of future events puts peoples’ money where their mouth is
By Peter Kerr for sticK
(sticK - 8 Dec. 2011 ) Some of the challenges of launching a new, useful and innovative internet based product are apparent in the iPredict.co.nz business.
Officially launched in 2008, just before that year’s general election, iPredict quantifies what are otherwise qualitative measures. Traders are betting on different predictions, allowing people to buy and sell stocks in future political and economic events. They are literally putting their money where their mouth is.
Put another way, the current market price (seen on
iPredict) can be interpreted as predictions of a probability
of an event.
Click to read the rest of this
story
http://sticknz.net/2011/12/08/betting-on-likelihood-of-future-events-puts-peoples-money-where-their-mouth-is/
For sticK – science, technology, innovation & commercialisation KNOWLEDGE - is a new Wellington based news service concentrating on following the money from ideas to income. Contact editor Peter Kerr at peter.kerr055 @ gmail.com
Peter Kerr
Message maker
Writer, communicator, simplifier, storyteller.
Versed in the art and science of translating something complicated into an understandable message.
Vegetables New Zealand: Asparagus Season In Full Flight: Get It While You Still Can 
Bill Bennett: Download Weekly - How would NZ telecoms cope with another cyclone
NZ On Air: Firm Audience Favourites Lead NZ On Air Non-Fiction Funding
Insurance and Financial Services Ombudsman: Woman Gets $40k More After Disputing Insurer’s Decision
BNZ: A Quarter Of Older NZers Fear Going Online Due To Scam Concerns
University of Auckland: Scientists Develop Tool To Monitor Coastal Erosion In Fine Detail
