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The Trade Ruler Game
1. The Ohlin model of international trade, put into a fifteen-minute computer game. The pointer is from Tim Sullivan.
2. Natascha Kampusch update, fascinating on numerous counts and one of the best media pieces I have read this year.
3. The most popular classical music downloads on iTunes.
4. New betting markets: The Washington Stock Exchange.
Posted by Tyler Cowen on September 13, 2006 at 11:38 AM in Economics | Permalink
Comments
It should be noted that the Washignton Stock Exchange doesn't use real money or any close analogue. Therefore it's predictive power is dubious.
Those who want a real information should stick with tradesports.
Posted by: ug at Sep 13, 2006 3:35:49 PM
With respect to the predictive abilities of play money markets vs. real money, I believe you have to look at the incentives rather than just the type of currency used. In our case, the market has been up for only a few days and we're already seeing individuals spend hours on the site making trades. To them, the entertainment and recognition of doing well is enough to motivate.
Having said that, we can do more to encourage traders to participate. In the near-term, we're going to be offering more tangible benefits than public recognition in the trader rankings.
Posted by: David Perry at Sep 13, 2006 4:06:38 PM
I'm sorry for the flippant comment but that game is retarded.
Posted by: Paul N at Sep 13, 2006 7:20:39 PM
So who'll be the first to study and compare the two exchanges to test the effect of economic incentives on trading effectiveness?
If the WSX performs as well (or only very marginally worse) than Tradesports, then does that mean Oskar Lange had a point?
Posted by: Keith at Sep 14, 2006 5:55:33 AM
Posted by: at Oct 13, 2008 11:43:40 PM
