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07 Robin Hanson at Tap the Collective

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Uploaded by on Sep 9, 2009

Robin Hanson of George Mason University, presented last, exploring how organizations can make decisions based upon unverifiable or controversial data. He described prediction markets as a great way to evaluate controversial and political topics and to incentivize people to "shut up when they don't know the answer". Best Buy's success in crushing Circuit City, for example, may be attributed to their markets asking employees about the direction of certain technologies, leading them to be better stocked with Blu-Ray players when that was decided upon as the HD video player of choice.

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