| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062833 | Economics Letters | 2006 | 5 Pages |
Abstract
Prediction markets are futures markets in which prices are used to predict future events. I present the first formal analysis of price determination supposing traders have heterogeneous beliefs, deriving the equilibrium when traders are risk-neutral price takers.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Charles F. Manski,