Edwards Contract Created in Iowa Electronic Markets
IEM prices reflect that Edwards has a 22 percent chance of winning the Democratic presidential nomination market. IEM directors spun off Edwards contracts from a "rest of field" contract after those contracts reached 20 cents.
John Kerry had a strong week in the IEM, and his price was at 54 cents Friday. Howard Dean had dropped to 13 cents, followed by Wesley Clark at 9 cents on Friday.
The Iowa Electronic Markets are real-money, web-based futures markets run by professors at the University of Iowa's Henry B. Tippie College of Business. For an investment of as little as $5 or as much as $500, traders can buy and sell futures contracts based on who they believe has the best chance to win the 2004 Democratic presidential nomination.
The IEM has 4,442 traders with $142,089 invested in the markets. For detailed information and latest prices in the markets, see the IEM website. Graphs showing IEM prices since the market opening in February 2003 are also available online.
Contact: George McCrory, UI News Service, 319-384-0012