When Are Crowds Unwise?

The wisdom of crowds theory has its fair share of skeptics, and with good reason.  When we look around us, we see lots of examples of crowds acting unwise.  Lynch … Read More

Prediction Market Outputs: Odds & Ends

If you survey the prediction market landscape, you’ll notice that the outputs that PM’s provide fall into one of two categories:  odds & ends. By “odds” I’m referring to the … Read More

Crowdsourcing vs. Crowdassessing

Prospective clients interested in our iCE prediction market technology often ask whether it’s a crowdsourcing tool.  My standard answer is “kinda.”   The term crowdsourcing is defined on Wikipedia as: … Read More

The Expert Magnet

The Woodrow Wilson Center’s Science and Technology Innovation Program (STIP) recently announced that they’re creating a prediction market to forecast future events of interest to the scientists, such as who will … Read More

How Prediction Markets Can Save Lives

I’m a TED Talk junkie.  In case you’re not familiar with TED, it’s an annual event composed of 5-15 minute “talks” by some of the world’s leading thinkers.  Notable past TED … Read More

Wisdom of Crowds vs. Egos of Bosses

In his ground-breaking book The Wisdom of Crowds, author James Surowiecki cites some pretty compelling evidence that crowds are usually wiser than individuals.  Even the smartest individuals amongst us.  He … Read More