The Journal of Prediction Markets has just released a speciel issue named Corporate Applications for Prediction Markets.

From our point of view there are some interesting articles as The Design of Idea Markets: An Economist’s Perspective (wich we mentioned in an earlier post) and Examining Trader Behavior in Idea Markets: An Implementation of GE’s Imagination Markets.

Buy the journal online and see the content here.

All the prediction markets out there certaintly think so. While Obama at the moment is leading the polls with 7.3 points he is trading around 90 at most prediction markets.

In Nyhedsspillet the Obama stock is currently trading at 94

At Iowa Electronic Market it looks like this

Intrade

Newsfutures

Forrester recomends that companies add prediction markets to their standard market research toolbox in a brand new report on prediction markets called: ‘Prediction Markets: Wisdom Of The Crowd Comes To The Enterprise’.

While it is great to see support for prediction markets from one of the big market research companies, the report doesn’t give any new insight. If you looking for a description of how prediction markets function or how they might be used by companies the report gives a good summary. But if you are familiar with prediction markets, you wont find nothing new.
You can read the abstract here and buy the report for 279 USD.

A check game between the grand master Gawain Jones vs. everybody else has been set up at www.crowdchess.com. At CrowdChess you can play chess in groups. Each side is made up of teams of dozens, hundreds or even thousands of people. Anyone on a team can suggest the next move, and the move that gets the most votes is the one that is played out.

It will be interesting to see if the crowd at CrowdChess can beat the master. In 1999 Kasparov won a four-month long similar match which he called “the greatest game in the history of chess.”

McKinsey Quartely has just released a great article on prediction markets called The promise of prediction markets: A roundtable.

From the abstract:
“In this roundtable, practitioners from Best Buy and Google, the author of a book about collective intelligence, and a professor of law discuss the potential of prediction markets and the main obstacles they must surmount to become a more widely used tool for making strategic decisions.”

You can download it here – all you need to do is register.

We are helping a couple of students with their thesis’ about prediction market, and last week one of them mentioned they have used News Exchange in their contribution to a redesign competition of the website of Sydsvenskan (a Swedish newspaper). Watch their video presentation below. By the way, I think is a very cool way to presentation with a lot of great ideas in it.

Watch the video here: Sydsvenskan Redesign

We are happy to announce that we are part of this years very interesting IntraTeam Event which takes place 5 and 6 March 2008. The theme is “Create value with intranet and portals” and Nosco will share valuable insight on how Prediction Markets can do just that by engaging and motivating employees.

By using the wisdom of crowds and Prediction Markets you can:

• Create focus by giving the company one voice
• Engage everybody in real time forecasting
• Engage everybody in joint innovation projects
• Engage everybody in monitoring competitors
• Motivate the employees to participate

If you think this and the rest of the programme sound interesting it is possible to sign up here.

Nosco and Politiken have officially launched Politikens Nyhedsspil (Politikens News Game in English). Politikens Nyhedsspil is powered by Noscos News Exchange and fully customized to Politiken. Politikens Nyhedsspil has been in beta for a couple of weeks, and has already more than 3500 active participants.

Here is an excerpt from our report of the performance of Politikens Nyhedsspil in the Danish election.

Politikens Nyhedsspil predicted all the outcomes of the Danish Election correct. 22 stocks concerned the Danish election. All of them predicted correct. Also, most stocks gave clear predictions days before the votes were cast.

During the last week of the election 1500 traders traded 893.442 shares in the 22 different outcomes. It shows us that relative few but active traders can create very robust outcomes.

Download the full report here: Danish | English

About Politikens Nyhedsspil:
Poltikens Nyhedsspil (in English: Politikens Newsgame) is a prediction market in news. On Politikens Nyhedsspil you will find shares in news and events from the real world. News are attached to shares, and shares are attached to news. There are prizes and auctions. You can open an account for free, you can make clubs and compete with your friends and colleagues. And it’s all tied together in an exciting competition about predicting tomorrow’s news today.

http://nyhedsspillet.politiken.dk

About Politiken:
Politiken is one of Denmark’s largest newspapers on print as well as online. The paper version has more than 400.000 readers every day and www.politiken.dk generates more than 25.000.000 page views per month.

http//:www.politiken.dk

Innovation guru Gary Hammel has just published a new book entitled The Future of Management. He is a strong believer in including the whole organzsation in a company’s innovation. He thinks that prediction markets can be used in this context. We agree.

Watch Gary Hammel introduce ‘The Future of Management’ below. We already ordered a copy!

[youtube]http://youtube.com/watch?v=1OE0q3I-xMc[/youtube]

Last week New Media Days 07 took place in Copenhagen, Denmark. The organizers describe the event like this: “it is where Scandinavian professionals from both traditional and new media converge to create the media of tomorrow.” It brought together more than 700 participants from all parts of the media world.

Nosco was among the speakers. We shared our knowledge on how prediction markets is an excellent tool to engage online users while creating revenue.

There where many interesting speeches during the two days. I especially enjoyed the talk given by Peter Hirshberg from Technorati who in a fun an intelligent way manage to picture the enormous shift in the way people use the different medias. See webcast online.

Thanks to the organizers for an extremely well planned event.