David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
We study experimental markets where privately informed traders exchange simple assets, and where uninformed third parties are asked to forecast the values of these assets, guided only by market prices. Although prices only partially aggregate information, they signiﬁcantly improve the forecasts of third parties. In a second treatment, a portion of traders are given preferences over the forecasts made by observers. Although we ﬁnd evidence that these traders attempt to manipulate prices in order to inﬂuence the beliefs of observers, we ﬁnd no evidence that observers make less accurate forecasts as a result
|Keywords||No keywords specified (fix it)|
No categories specified
(categorize this paper)
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library||
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Yiling Chen, Rahul Sami & Daniel M. Reeves, Gaming Prediction Markets: Equilibrium Strategies with a Market Maker.
Robert E. Goodin (2006). The Epistemic Benefi Ts of Multiple Biased Observers. Episteme 3 (3):166-174.
Robert E. Goodin (2006). The Benefits of Multiple Biased Observers. Episteme 3 (3):166-174.
I. I. I. Session, Transaction Costs and Informational Cascades in Financial Markets: Theory and Experimental Evidence.
Added to index2009-03-15
Total downloads3 ( #293,020 of 1,101,142 )
Recent downloads (6 months)0
How can I increase my downloads?