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Consumer confidence indicators(CCI) serve as a veritable tool for providing useful information to policy makers … of consumers in their expectations about the general state of the economy, even if their pessimism were not based on … economic fundamentals. This study evaluated the predictive ability of the CCI in forecasting economic fluctuations in Nigeria …
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We present a novel methodology for identifying public knowledge and eliminating the biases it creates when aggregating information in small group settings. A two-stage mechanism consisting of an information market and a coordination game is used to reveal and adjust for individuals' public...
Persistent link: https://www.econbiz.de/10009218389
Lately, traditional forecasting methods have been depicted as inferior to newer ones which are attempting to simulate … inverse approach to the forecasting problem. The typical process of attempting to subtractively model the expert's knowledge …
Persistent link: https://www.econbiz.de/10010670087
In a prediction contest participants compete for a prize by submitting guesses regarding an unknown variable; the winner of the contest is the participant who submits the most accurate guess. In this paper the results of a simple prediction contest are reported. In the contest, certain members of...
Persistent link: https://www.econbiz.de/10010798250
Prediction Markets, sometimes referred to as 'information markets', 'idea futures' or 'event futures', are markets where participants trade contracts whose payoffs are tied to a future event, thereby yielding prices that can be interpreted as market-aggregated forecasts. This article summarizes...
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The modern Condorcet jury theorem states that under weak conditions, when voters have common interests, elections will aggregate information when the population is large, in any equilibrium. Here, we study the performance of large elections with population uncertainty. We find that the modern...
Persistent link: https://www.econbiz.de/10013189048
The modern Condorcet jury theorem states that under weak conditions, when voters have common interests, elections will aggregate information when the population is large, in any equilibrium. Here, we study the performance of large elections with population uncertainty. We find that the modern...
Persistent link: https://www.econbiz.de/10012806603