http://iceblog.disqus.com/enWed, 02 Jun 2010 09:52:15 -0000http://blog.icepredict.com/2010/05/how-prediction-markets-can-save-lives/#comment-60029900<p>Erdem, you raise some great points. Though my post focused on prediction markets for public policy at the national or international level, I can also see some effective applications at the local level. Since these markets are relatively quick and inexpensive to setup, there's no reason that local governments couldn't utilize them as well. It's true that some of market's conclusions could speak against the benefits of incumbent politicians, which in my opinion is all the more reason to implement them...</p>infosurvWed, 02 Jun 2010 09:52:15 -0000http://blog.icepredict.com/2010/05/how-prediction-markets-can-save-lives/#comment-60029899<p>Dear Jared,</p> <p>This sounds great. I can think of World Bank opening up to the bank staff to rate the outcomes or effectiveness of various of its projects.</p> <p>They could resolve the markets with real outcomes, but recent investigation shows resolving with market prediction could work just as well.</p> <p>Yet I wonder why one would have to start using them abroad.. How about starting to use them at your very municipality, school district, etc.. Would you feel comfortable?</p> <p>There is a lot of research going on that field, too, ie regarding effectiveness of early childhood teaching programs, effect of suburbanization or gated communities on crime... The tough part is to set the wisdom into practice as this is politics: the wisdom may (and is likely to) speak against the benefits of the politically strong.</p> <p>Erdem</p>ErdemWed, 02 Jun 2010 05:33:38 -0000