Iowa Electronic Markets Noted

The science behind Hollywood Stock Exchange and similar exchanges, called "prediction markets" and "decision markets," is real. Harnessing the inspired hunches and informed guesses of a vast audience, these markets chart the likelihood of future events, often with startling accuracy. In the 2008 presidential campaign, The University of Iowa's Iowa Electronic Marketspredicted the final vote totals of Barack Obama and John McCain with more precision than the polls of Gallup, Zogby, Fox News, CBS, ABC, and NBC/Wall Street Journal.

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