Word: predictioneer
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The power of markets, it turns out, has something to say about practically everything. We see it at work on Wall Street, which absorbs the collected wisdom of millions of investors and expresses it as stock prices. Prediction markets now let people bet on everything from sports scores to election...
The driving force behind prediction markets is something called information aggregation. Traditionally, it has been the realm of professionals such as pollsters or weather forecasters or the CIA. Those experts tend to be knowledgeable but are prone to certain limitations: personal bias, groupthink, clashing personalities. "In companies, not only are...
PREDICTOR Pittsburgh Pirates manager Jim Leyland and the Boston Globe PREDICTION ''Jim Leyland has been saying the Mets are the team that could run away ((with the National League East championship)). He's right.'' WHAT HAPPENED The Mets finished the season with 100 losses for the first time since 1967...
PREDICTOR Jack Germond on McLaughlin PREDICTION ''No tax bill in 1993.'' WHAT HAPPENED Clinton budget with $241 billion tax increase becomes law.
PREDICTOR Psychic ''Mystic Meg'' in the supermarket tabloid Globe PREDICTION Fear of disease will prompt Madonna to remarry Sean Penn and become ''the new Julie Andrews of the film world.'' WHAT HAPPENED Sean Penn and Robin Wright had their second child. Madonna starred in Body of Evidence, an S&M...