"The whole is more intelligent than the individual"
Prediction markets profit from the informational efficiency of markets and combines this with the wisdom of the crowds. Predictions resulting from these markets and often more precise and timelier than comparable prediction instruments, like surveys or votes. These techniques have been used in multiple projects with partners in industry and academia in a number research areas. Forecasts have been made to predict the outcomes of football matches (soccer), climate change and innovation projects. The most recent project, currently in the planing phase, is the Economic Indicator Market (EIX) in cooperation with the IW Cologne, designed to predict German economic development.
Christof Weinhardt, Stephan Stathel, Florian Teschner