Monday, April 26, 2010
Prediction Market at Google
This week’s article is very interesting with a new level of forecasting and predicting practices in Google’s world. This predicting practice that uses collection of people to bet on future happenings created an amazing result of forecasting with larger crowd. Even though its applicability is widely different in different companies, the system used in Google may not able to be duplicated easily. However, I don’t understand why big trading companies are not interested in setting up such a system, so that they minimize their margin of errors in their trading activities.
Subscribe to:
Post Comments (Atom)
I agree that this is the type of tool that would be extremely useful at a trading company. I see less use for it at a company like Google if they plan on using it to make managerial decisions. However, I'm sure there are many ways Google could use prediction markets, especially when it comes to generating more revenue from advertising.
ReplyDelete