Thursday, July 31, 2003

An odd 'collective mind' approach to prediciting the future - The Case for Terrorism Futures:
Projects similar to PAM, like the Iowa Electronic Markets, which speculate on election results, have been surprisingly reliable indicators of what's going to happen next.
The price of orange juice futures has even been shown to accurately predict the weather, noted David Pennock, a senior research scientist at Overture Services who has done extensive surveys on the reliability of such markets
(from Wired).

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