Robin Hanson on the history and future of prediction markets

Robin Hanson was one of my professors at George Mason University, where I did my graduate work.  He's also the God of Prediction Markets.  Indeed, his theoretical work was essential to iPredict being able to offer an automated market maker to facilitate trades.

To hear the good word about the prospects for prediction markets, go listen to his lecture at videolectures.net.  It's his contribution to the Pascal Lecture Series.  He covers social and corporate applications of the technology.  His example of how a firm could use prediction markets to figure out whether they should switch ad agencies is pretty neat!  Enjoy!