Archive for 'Applications - Government'
Emergency Governance
Whereas prediction markets might help assist administrative agencies in their day-to-day operations, they might be particularly useful in emergencies. Consider, for example, the federal and state governments’ response to Hurricane Katrina. Critics generally complained that the governments had engaged in poor planning.47 Moreover, some governmental decisions, such as those that prevented the Red Cross from […]
Legislation Adjustment Assistance
Prediction markets could be used to provide social insurance against privately harmful legal change. Such a program could mute opposition to socially beneficial change, making it easier to enact. In at least one context the U.S. government has attempted to do this: by providing trade adjustment assistance.34 The theory is that free trade generally increases […]