Wolfers on political prediction markets

Justin Wolfers has made available a podcast of a talk he gave at the recent CFA Institute annual conference in Vancouver which is an introduction to political prediction markets. The talk in entitled "Prediction Markets: The Collective Knowledge of Market Participants ". In this podcast, Wolfers discusses the following:

• How simple markets can aggregate and disperse information into efficient forecasts of uncertain future events
• The track record of market-generated forecasts, and market expectations about probabilities
• What prediction markets tell us about market efficiency

Or if you prefer to see the video and slides as well, here’s a webcast of a talk he did for CFA on the topic of "The Power of Prediction Markets" in 2007. The video and slides cover much the same materials as the podcast.

(HT: Freakonomics)