Name
Abstract | ||
|---|---|---|
Hanson's market scoring rules allow us to design a prediction market that still gives useful information even if we have an illiquid market with a limited number of budget-constrained agents. Each agent can "move" the current price of a market towards their prediction. While this movement still occurs in multi-outcome or multidimensional markets we show that no market-scoring rule, under reasonable conditions, always moves the price directly towards beliefs of the agents. We present a modified version of a market scoring rule for budget-limited traders, and show that it does have the property that, from any starting position, optimal trade by a budget-limited trader will result in the market being moved towards the trader's true belief. This mechanism also retains several attractive strategic properties of the market scoring rule. |
Year | Venue | Field |
|---|---|---|
2012 | CoRR | Scoring rule,Mathematical economics,Economics,Prediction market,Microeconomics,Order (exchange) |
DocType | Volume | Citations |
Journal | abs/1202.1712 | 1 |
PageRank | References | Authors |
0.37 | 1 | 2 |
Name | Order | Citations | PageRank |
|---|---|---|---|
| Lance Fortnow | 1 | 2788 | 352.32 |
| Rahul Sami | 2 | 541 | 54.42 |