Thursday, June 5, 2008

Prediction markets

My good friend Adam Siegel and Inkling Markets gets a major shoutout from Harvard Business: How to Kill Bad Projects

The problem of corrupted information flows stayed with Siegel and ultimately led him to found his current company, Inkling Markets, a software-as-service venture aimed at helping companies conduct successful prediction markets. What does a prediction market have to do with eliminating spin? Siegel sees an opportunity to produce higher quality decision support in businesses by tapping anonymous input “from people who aren’t normally asked their opinions, in samples large enough to filter out individual agendas.”

Prediction markets are a great way to include voices in the conversation that aren't normally at the table, while at the same time avoiding the problems of groupthink.

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