If you could invent something to fulfill an economist’s dream, it would look an awful lot like a prediction market. A world where every uncertain future can be priced, hedged and insured against? Kenneth Arrow and Gérard Debreu would approve. A market mechanism to co-ordinate the decentralised wisdom of crowds, ensuring the accuracy of such prices? Adam Smith and Friedrich Hayek sought just that.
ASIA: The major Asian stock markets had a green day today: • NIKKEI 225 increased 687.73 points or 1.37% to...
The Good, Part the First: Basic Science Has the Answer, Once Again. T cells of the immune system are responsible...
Consumers are still dining out, but instead of higher-priced entrees, many are ordering more appetizers. As food inflation and affordability...
Let me begin with an apology for my relatively late entry into this debate. I would have interjected earlier, but...
Sam works on innovation policy at Progress Ireland, an independent policy think tank in Dublin, and runs a publication called...
Yves here. Even though the recent Trump National Security Strategy document created an uproar, among other reasons for its harsh...
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