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I know this phenomenon, it is a basic of freemarket economics. I think the first case was back in the 1907 of a crowd, in aggregate, guessing the weight of an oxen accurately when they were putting up their own money for an individual guess. It might have been Francis Galton who ran the experiment.
Where are you making the market for guesses?
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Yes, you're right! That phenomenon is now know as Prediction Market.
Here's the market link: https://beta.predyx.com/market/is-the-current-bird-flu-strain-man-made
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Thanks, I have never seen this website before.
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Sure:
๐ฆ Market Explanation for Beginners๐ฆ Market Explanation for Beginners
Market Question:
Is the current bird flu strain man-made?
What does this mean?
Some scientists and experts, like Dr. Peter McCullough, suggest that the bird flu strain spreading right now might have been created in a lab through a process called gain-of-function research. This market is about predicting whether official sources or scientific studies will confirm that this is true.
๐ฎ What is a Prediction Market?๐ฎ What is a Prediction Market?
A prediction market is a place where people bet on the outcome of real-world events โ like elections, sports games, or scientific discoveries. Instead of guessing randomly, participants use news, research, and analysis to make their bets. The market price reflects what the crowd thinks the chance of something happening is.
Example:
If you bet correctly, you win money. If you're wrong, you lose.
Why use prediction markets?
๐ This market lets you bet on whether bird flu was man-made, based on upcoming discoveries or official confirmations.