Markets in everything: Google edition

At lunch recently, Tyler expressed concern about how well the Google auction would work given that no one knew what the stock would open at. Robin Hanson, famed for his role in the Pentagon “terror market,” chimed in that “we could have a market in that.” True, but not necessarily helpful – surely, the regress must end somewhere? Helpful or not, Robin has been proven correct as a descriptive matter. We now have something of a market, or at least a contest, in predicting the Google IPO price. See The Google IPO Swami.

Thanks to Eric Crampton for the pointer.