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Business Week has an interesting feature on the corporate world using Prediction Markets for planning:
"Prediction markets offer executives a new way of forecasting future events such as revenue targets and product completion dates by aggregating information from many different employees. These markets work much like the stock market, except that prices generally reflect the probability that specific events will occur at a future date. Prediction markets are just making their way into corporate planning sessions."
The "Guide to Prediction Markets: A Tip Sheet" is a pop-up window that's worth looking at. The "Dos and Don'ts" seem quite smart to me. One of the "Dos" is:
"Pony up some cash (even if it's not real dough) Employees will show more interest in participating in play-money markets if they start with a sizable nest egg, say $10,000."
I suspect that "alternative currencies" are going to become commonplace in work places in the near future. Such currencies aren't replacements, but have the potential to be accurate measures of value. I wonder how the proliferation of portfolio's measured in alternative currencies will mean for the way we think about money?
Business Week has an interesting feature on the corporate world using Prediction Markets for planning:
"Prediction markets offer executives a new way of forecasting future events such as revenue targets and product completion dates by aggregating information from many different employees. These markets work much like the stock market, except that prices generally reflect the probability that specific events will occur at a future date. Prediction markets are just making their way into corporate planning sessions."
The "Guide to Prediction Markets: A Tip Sheet" is a pop-up window that's worth looking at. The "Dos and Don'ts" seem quite smart to me. One of the "Dos" is:
"Pony up some cash (even if it's not real dough) Employees will show more interest in participating in play-money markets if they start with a sizable nest egg, say $10,000."
I suspect that "alternative currencies" are going to become commonplace in work places in the near future. Such currencies aren't replacements, but have the potential to be accurate measures of value. I wonder how the proliferation of portfolio's measured in alternative currencies will mean for the way we think about money?
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