Saturday, October 21, 2006

Why WSX and not TradeSports?

Washington Post article on the Washington Stock Exchange. Why are they promoting a fake money exchange when real money ones exist?

The site uses the theory of prediction markets -- the higher the "stock price" of an event, the more likely it is to happen -- to try to accurately forecast outcomes. The Iowa Electronic Markets, another political prediction market that started in 1988, claims to be more accurate than the polls 75 percent of the time.

So who's going to win that tight Senate race in Virginia? At press time, WSX gave the edge to Republican incumbent George Allen, who was trading at $62.25, while Democratic challenger James Webb was at $54.98.

The Allen contract on TradeSports is now at 72 with Webb's at 30.

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1 Comments:

Chris. F. Masse .COM said...

Because the purpose of this column is to give exposure to brand-new stuff, and that's the case for WSX.

Look at the author's pseudo:
"By Buzz Worthy"

3:00 PM  

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