IEM Finds Competition in For-Profit Wagering Systems
The Iowa Electronic Markets, a not-for-profit wagering system, has a potential payout of $162,000. The Iowa Electronics Market, run by Iowa's Tippie College of Business, has correctly picked the winner of three out of the past four presidential elections. Professors George Neumann, Robert Forsythe and Forrest Nelson hatched the idea for a presidential futures market after polls failed to predict Jesse Jackson winning the Michigan democratic primary in March 1988.
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