The concept
Markets are everywhere.
From the stock market in New York to the fish market in Tokyo to the flower market in Amsterdam, markets are used for a variety of purposes. But, while stock markets, for example, seem to be so different than betting, or fish and flower markets, in their core all those institutions are essentially the same.
Markets bring people together, they sum up their information and transmit it through prices.
Bringing it to the masses
We provide you with the simplest way to create your very own marketplace.
Within it, you may let people come and create some markets or trade in markets created by others. And, essentially, you will be aggregating people's opinions and knowledge, while transforming these dynamically into meaningful results.
The ideal tool for crowdsourcing cognitive tasks to arrive at consensus, which is typically more accurate than the opinions of the few experts, as suggested by both theory, experiments and practice.
Applicable everywhere
Wherever people and information exist.
It is only during the last years that the rise of the Web has given an actual shape to the idea and its potential, better captured by the term ‘prediction markets’. And this very promise of markets is unfolding day by day, as the tool is being put into practice by dozens of enterprises and communities, both huge and small.
Typical uses of markets for enterprise decision support range so far from planning and forecasting, project management and marketing to new product development and market research. At the same time, another major field of use regards public applications of aggregating people’s opinions, on elections, movies, products or anything else.
If there exists a number of people possessing valuable information on what you care about, and you have yet to find a reliable, accurate and dynamic way of summing this information up, then markets is definitely what you are looking for.
So, now you care. And you do know why. But, if all these sound like abstract theory to you, you're a few clicks away from pure practice.
