iPredict launches: New Zealand's first real-money prediction market
After a lengthy gestation period, New Zealand's first real-money prediction market - iPredict - officially launched today (9 September). Originally conceived by ISCR (assisted by sponsorship from Massey University and the RBNZ), and now co-owned with Victoria University, iPredict harnesses the wisdom of crowds by enabling users to trade on their predictions about a broad range of political and business events.
iPredict Chairman, Professor Neil Quigley, says the online marketplace will be a powerful research tool for companies, government departments and academics. "International research into prediction markets shows they are highly effective in a business context, generally outperforming alternative forecasts, and there is good reason to expect them to also perform well in government departments."
To view iPredict in action, go to http://www.ipredict.co.nz/
View TVNZ news reports http://tvnz.co.nz/view/page/410965/2063802
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