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Iowa Electronic Markets Inspired Farmetrics

he Iowa Electronic Markets, or IEM, has allowed students throughout the world to not only learn about and forecast the outcome of political events, but also make a little money if their predictions are right. IEM started in 1988 out of the efforts of faculty at the UNIVERSITY OF IOWA who wanted the market prediction Web site to be an Internet-based teaching and research tool for other teachers and students across the country and world. The market-based Web site's success that led Bill Towles and others to create Farmetrics, the first prediction market tailored to U.S. agribusiness. The Garden City Telegram is published in Kansas.

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