Shortage of pulses in India: understanding how markets incentivize supply response

Grass Root Bureaucrats: How Prediction Markets Can Incentivize Citizens to Fill Esa Data Gaps

Prediction markets,1 which allow participants to place bets on the probability of a particular event, have been used with great success in the election context. Virtually ubiquitous during the 2008 election, prediction markets were used to forecast the chances of a particular candidate winning the election, and were often used by Internet pundits to keep “score” of the polls throughout the run-...

How Markets Slowly Digest Changes in Supply and Demand

In this article we revisit the classic problem of tatonnement in price formation from a microstructure point of view, reviewing a recent body of theoretical and empirical work explaining how fluctuations in supply and demand are slowly incorporated into prices. Because revealed market liquidity is extremely low, large orders to buy or sell can only be traded incrementally, over periods of time ...

Using Prediction Markets to Incentivize and Measure Collective Knowledge Production

One of the toughest challenges to ensure the emergence of collective intelligence and knowledge production is to rightly set individual incentives towards the achievement of a common goal [Pickard et al. 2011]. Unfortunately, most attempts to establish and maintain long-term collective action are confronted with diverging individual incentives [Hardin 1968], and organizational issues [Ostrom 19...

Nurse supply grows despite shortage fears.

Diseases endemic in developing countries: how to incentivize innovation.

This comment addresses the inadequacies of research and development for diseases endemic in developing countries and explores how the patent system can inhibit innovation for new drugs for neglected diseases. The author analyzes four strategies to encourage innovation, including open source initiatives, patent pools, prizes, and wild card patent extensions, and examines how these alternative sy...