Abstract
When electronic market research started in the end of the 1980’s the primary objective was to conduct electronic markets to “produce” and analyze individual market data that can hardly be observed in real-world markets. Using these data it becomes possible to test several hypotheses that are common in microeconomic models or to study the efficiency of different market institutions. The first markets, conducted at University of Iowa on the occasion of political elections in the United States, turned out to be quite successful in predicting the elections’ outcomes. Thus a second strand of research evolved, focussing on the forecasting quality of electronic markets.
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Berlemann, M. (2002). Comment on Gregor Brüggelambert and Arwed Crüger, Forrest Nelson and Reinhard Tietz, and Jörg Bochow, Peter Raupach and Mark Wahrenburg. In: Bolle, F., Lehmann-Waffenschmidt, M. (eds) Surveys in Experimental Economics. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57458-0_14
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DOI: https://doi.org/10.1007/978-3-642-57458-0_14
Publisher Name: Physica, Heidelberg
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