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Outcome Manipulation in Corporate Prediction Markets

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Author Info
Marco Ottaviani
Peter Norman Sørensen

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Abstract

This paper presents a framework for applying prediction markets to corporate decision-making. The analysis is motivated by the recent surge of interest in markets as information aggregation devices and their potential use within firms. We characterize the amount of outcome manipulation that results in equilibrium and the impact of this manipulation on market prices. (JEL: D71, D82, D83, D84) (c) 2007 by the European Economic Association.

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File URL: http://www.mitpressjournals.org/doi/pdfplus/10.1162/JEEA.2007.5.2-3.554
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Publisher Info
Article provided by MIT Press in its journal Journal of the European Economic Association.

Volume (Year): 5 (2007)
Issue (Month): 2-3 (04-05)
Pages: 554-563
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Handle: RePEc:tpr:jeurec:v:5:y:2007:i:2-3:p:554-563

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  1. Helena Veiga & Marc Vorsatz, 2008. "Aggregation and dissemination of information in experimental asset markets in the presence of a manipulator," Statistics and Econometrics Working Papers ws084110, Universidad Carlos III, Departamento de Estadística y Econometría. [Downloadable!]
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This page was last updated on 2009-12-12.

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