Special Section: Globalization and Electronic Commerce
نویسندگان
چکیده
The accuracy of prediction markets has been documented both for markets based on real-money and those based on play-money. To test how much extra accuracy can be obtained by using real money versus play-money, we set up a real-world online experiment pitting the predictions of TradeSports.com (real-money) against those of NewsFutures.com (play-money) regarding American Football outcomes during the fall — winter 2003 NFL season. As expected, both types of markets exhibited significant prediction powers, and remarkable performance compared to individual humans. But, perhaps surprisingly, the play-money markets did not perform any worse than the real-money markets. We speculate that this result reflects two opposing forces: real-money markets may better motivate information discovery while play-money market may yield more efficient information aggregation.
منابع مشابه
Special Section: Globalization and Electronic Commerce
Brazil presents an interesting case study of local factors influencing the adoption and impacts of e-commerce. It is a large developing country in which some segments of the economy are technologically sophisticated while others are quite backward. Based on existing knowledge of Brazil’s economic and policy environment and its experience with other information technologies, we develop three the...
متن کاملIntroduction to the Special Volume on Globalization and E-Commerce
The ten papers in this special volume of CAIS focus on environmental and policy influences on the diffusion of e-commerce in selected countries in the Americas, Asia-Pacific, and Europe. They are part of a multi-year, multi-country study entitled, “Impacts of Electronic Commerce in the Global Networked Economy: A Multi-Country Study”. [www.crito.uci.edu/GIT/Project3d.asp]
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Innovative technologies are changing the landscape of interorganizational relationships. Following proprietary interorganizational information systems (IOS), the advent of Internet-based electronic commerce provided new opportunities and challenges to connect businesses, facilitate transactions, and enable collaborations among business partners, sellers and buyers, and businesses and public ins...
متن کاملSpecial Section: Globalization and Electronic Commerce
The demand of market globalization has raised the challenge of semantic interoperation in and between traditional and electronic fragmented markets and driven the development of integration technology. This paper argues that by comparing the cost advantages of technical integration and internationalization in production and distribution, semantic integration technology will lead to an overall s...
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