Abstract
This column examines the cognitive load of prediction markets from four steps of user's decision process (that is, timing, pricing, revisiting, and benefit) and discusses how a prediction market mechanism could have a low cognitive load. In the column, the authors propose that fixed-odds betting can be used as a prediction market mechanism with carefully designed event probability estimators. The development of low-cognitive load prediction markets needs the join efforts of computer scientists and economists.
Original language | English (US) |
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Article number | 7111878 |
Pages (from-to) | 76-80 |
Number of pages | 5 |
Journal | IEEE Intelligent Systems |
Volume | 30 |
Issue number | 3 |
DOIs | |
State | Published - May 1 2015 |
Keywords
- auction
- fixed odds
- intelligent systems
- posted price
- prediction market
ASJC Scopus subject areas
- Computer Networks and Communications
- Artificial Intelligence