Talk:Bet: Difference between revisions
(yup, "derivative" markets are bets on others' stupidity) |
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To '''bet''' on outcomes is the entire basis of [[market]] dynamics. It is not optional in thinking about markets. There is some question as to whether bets could play a constructive role in the [[Content Wiki]]. Here is a suggestion that they might: | |||
[[Prediction market]]s are a committed way to "put a bet on record" which helps others to see which bets you really believe, versus those you make just casually. Unlike bets in the [[commodity market]]s or [[currency market]]s, a prediction is normally attributed to some person, who may be trying to build up a reputation for successful prediction. But the voting, debating, etc., around the bet is the point - the commitment and the contrast between people taking up opposing positions, helps focus that and concentrate it on a specific test - the same way scientific theories exist to focus attention on one experiment. | |||
For an excellent example of how bets and commitment to taking one side of a bet can focus political debate, see http://www.longbets.org/129 | |||
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This is like off-topic for now, but I've noticed there are two kinds of betters: | This is like off-topic for now, but I've noticed there are two kinds of betters: | ||
#Those who bet on the outcome that determines who wins and who loses | #Those who bet on the outcome that determines who wins and who loses | ||