Crowd wisdom has been shown to be more accurate than expert wisdom in a whole range of fields. If you want to find the hidden knowledge your colleagues, the members of your organization or your group have, a prediction market may provide just the right setting for gaining access to this information. Using play money, the participants in your market compete to show who can predict future events. The result? Information spreads, risks can be caught early, and the participants get more involved.
The Forecast Exchange advantage is that you can easily create your own, private market where only the people you invite can interact and see the market. You set up a handful of forecasts and each participant receives a few stocks in each forecast "forcing" them to take a stand. Should they keep the stocks or sell them? Should they buy more? Which forecast is more likely to come true?
Learn the basics of the Forecast Exchange. Learn how to buy and sell while at the same time keeping up with what is happening with your crowd.Go to tutorial
Have questions about the Forecast Exchange? Learn how it can benefit your crowd by visualizing risk as it develops and keeping everyone up to date and interested in what is going on.Learn More
Intrigued by the idea of crowd sourcing and prediction markets?
So are we! We’ve put together a bibliography of suggested readings.
These authors have inspired the Forecast Exchange and might just inspire you, too!