This paper studies the effects of information exchange and social networks on the performance of prediction markets with endogenous information acquisition. We provide a game-theoretic framework to resolve the question: Can social networks and information exchange promote the forecast efficiency...

Information aggregation mechanisms are designed explicitly for collecting and aggregating dispersed information. An excellent example of the use of this "wisdom of crowds" is a prediction market. The purpose of our Twitter-based prediction market is to suggest that carefully designed market...

Social media services such as Twitter and YouTube are offering unprecedented opportunities for ordinary people to access a huge amount of content and to publish their own content for a global audience. The key innovation of these services, however, is not technological, rather, it's about...

Online peer-to-peer communities and online social networks have become increasingly popular. In particular, the recent boost of online peer-to-peer communities leads to exponential growth in sharing of user-contributed content which have brought profound changes to business and economic...

Online communities provide a social sphere for people to share information and knowledge. While information sharing is becoming a ubiquitous online phenomenon, how to ensure information quality or induce quality content, however, remains a challenge due to the anonymity of commentators. This...