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rssMB to JacobinEnglish · 2 months ago

Gambling on the Wisdom of Crowds Is a Bad Bet

jacobin.com

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Gambling on the Wisdom of Crowds Is a Bad Bet

jacobin.com

rssMB to JacobinEnglish · 2 months ago
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Prediction market cheerleaders want us to put our money up, invoking the wisdom of crowds to justify betting on everything from sports to elections. But the probabilities are shaped by speculation and market design, not reliable forecasts.

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