1 - Robin Hanson: Prediction Markets & Futarchy

2023-05-25

Robin Hanson and I discuss prediction markets, decision markets, Futarchy, and Demarchy. We cover simple and more elaborate applications of prediction markets, common objections to them and barriers to implementation at the organization level, when a prediction market becomes a decision market, his vision for Futarchy--a proposed system of government whereby elected officials use prediction markets to inform policy decisions based on measurable objectives--and Demarchy, another alternative governance mechanism where policy-makers are chosen at random from...

Robin Hanson and I discuss prediction markets, decision markets, Futarchy, and Demarchy.

We cover simple and more elaborate applications of prediction markets, common objections to them and barriers to implementation at the organization level, when a prediction market becomes a decision market, his vision for Futarchy--a proposed system of government whereby elected officials use prediction markets to inform policy decisions based on measurable objectives--and Demarchy, another alternative governance mechanism where policy-makers are chosen at random from among the population.

Professor Robin Hanson is Associate Professor of Economics at George Mason University and a research associate at the Future of Humanity Institute of Oxford University.

Robin Hanson's Twitter: https://twitter.com/robinhanson

Personal site: http://mason.gmu.edu/~rhanson/home.html

University bio: https://economics.gmu.edu/people/rhanson

On prediction markets: http://mason.gmu.edu/~rhanson/ideafutures.html

On Futarchy: http://mason.gmu.edu/~rhanson/futarchy.html

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