Rietz Explains IEM, Updates Prices
October 27, 2004 | MSNBCAppearing on MSNBC's "Market Wrap," University of Iowa associate professor of finance TOM RIETZ explained the Iowa Electronic Markets, noting that the IEM has about 3,200 traders and about $300,000 in investments. Since 1988, the IEM has had an average prediction error of 1.37 percent in predicting the outcomes of presidential elections. The IEM is showing a 60 percent probability that George Bush will win the election, compared to 40 percent for John Kerry.
Contact: Thomas Rietz