Prediction markets applications

Think you know what the next hot Twitter trend will be? Now you can put your money where your mouth is.

Prediction markets have been a growing trend in recent years. It is essentially a stock market for future events and decisions. For example, people can buy or sell against a specific occurrence - like whether or not the Democrats will lose seats in the 2010 election. With thousands of people buying and selling on that occurrence, you can come up with a prediction that essentially utilized the crowdsourcing of open markets.

Now the prediction market has come to Twitter with PreTweeting, a new website that lets you buy specific words being used on Twitter and gives you $10, 000 in virtual currency to do it.
Pretweeting is very straightforward in design. You can buy 50, 100, 500, or 1000 "slots, " with each slot equaling one word. Words rise and fall in price based on the market value, with = being mentioned in 1% of all recent tweets. The top word for sale is currently "the", which is going for about 8 as of this post. Mashable, on the other hand, is going for a measly Words rise and fall in price based on the market value, with $10 = being mentioned in 1% of all recent tweets. The top word for sale is currently "the", which is going for about $228 as of this post. Mashable, on the other hand, is going for a measly $0.23 at the moment (though it's been at $0.45 in the past).

And really, that's about it. You can chat with other pretweeters (using the #pretweeting hashtag), perform research on words.23 at the moment (though it's been at ent (though it's been at Words rise and fall in price based on the market value, with $10 = being mentioned in 1% of all recent tweets. The top word for sale is currently "the", which is going for about $228 as of this post. Mashable, on the other hand, is going for a measly $0.23 at the moment (though it's been at $0.45 in the past).

And really, that's about it. You can chat with other pretweeters (using the #pretweeting hashtag), perform research on words.45 in the past).

Pretweeting-twitter-gets-a-prediction-market-cd06c79342And really, that's about it. You can chat with other pretweeters (using the #pretweeting hashtag), perform research on words, and check out the leaderboard. But it all focuses around the market for words on Twitter. You could make a great deal of virtual cash buying a trending topic on Twitter before it trends, or you could lose a bunch if a word drops off the list.

Pretweeting is an interesting experiment, and in fact could help businesses or individuals predict the next big Twitter trend, or even the next big cultural phenomenon. There are a lot of useful applications of prediction markets. We think the same model is transferrable to Twitter.

You might also like
Romney vs Obama Effect on Economy and Stock Market and
Romney vs Obama Effect on Economy and Stock Market and ...
GOP Gets it Wrong Again: On Prediction That Markets Would
GOP Gets it Wrong Again: On Prediction That Markets Would ...

Self-Regulatory Organizations; ICE Clear Europe Limited; Order Granting ..  — Insurance News Net
ICE Clear Europe states that the changes to the Risk Policy amend the calculation of CDS initial margin requirements to comply with margin requirements under EMIR Article 41 and Article 24 of the implementing Regulatory Technical Standards. /5/ ICE ..

desarrollo.android.market@gmail.com Test of Love Daily
Mobile Application (desarrollo.android.market@gmail.com)
  • move to sd card

Popular Q&A

avatar
What real world applications do we see of prediction markets?

Prediction market are a great tool for companies to drive their innovations. The key is to use it properly in order to listen to your customers' future needs and see what could be useful.
After all, innovating is really anticipating the future, isn't it?
There are many other applications...  like analyzing the trends in finance for example.

Related Posts