News & Events

Iowa Electronic Markets track Giuliani prostate cancer news

The Iowa Electronic Markets (IEM) reacted quickly to Thursday's news of New York Mayor Rudolf Giuliani's prostate cancer, with his shares in his New York Senate Markets dipping to 30 cents from 52 cents on Wednesday.

The IEM prices moved within an hour of Giuliani's announcement. At 11:15 a.m. (CST) Hillary Clinton contracts were up to 52 cents from 46 cents, while the NY REP contracts (representing the outcome that another Republican wins the election) were up to 25 cents from Wednesday's close of 2 cents. By Friday morning, Giuliani was at 30 cents, Clinton at 50 cents, and NY REP had moderated to 20 cents.

For current prices, go to http://iemweb.biz.uiowa.edu/quotes/18.html Quotes are updated every 15 minutes; the "last" price is the best indicator of market activity. The main IEM website is http:/tippie.uiowa.edu/iem/.

The Iowa Electronic Markets are real-money futures markets in which contract payoffs depend on economic and political events such as elections. These markets are operated by faculty at the University of Iowa Tippie College of Business as a research and teaching tool.

For more information, contact the IEM office at (319) 335-0881, iem@uiowa.edu, or Jeanine Pfuntner, IEM operations manager at (319) 335-0794, jeanine-pfuntner@uiowa.edu.

A chart is available showing recent market activity in the New York Senate Market is at http://iemweb.biz.uiowa.edu/graphs/graph_nysenate.cfm. A chart showing the Giuliani price drop on Thursday is available by request in an Excel email attachment (56K) or by fax.


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