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|a (DE-627)JST056226454
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|a (JST)30047953
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|a DE-627
|b ger
|c DE-627
|e rakwb
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|a eng
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|a Chen, Kay-Yut
|e verfasserin
|4 aut
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|a Eliminating Public Knowledge Biases in Information-Aggregation Mechanisms
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|c 2004
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|a Text
|b txt
|2 rdacontent
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|a Computermedien
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|a Online-Ressource
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|a We present a novel methodology for identifying public knowledge and eliminating the biases it creates when aggregating information in small group settings. A two-stage mechanism consisting of an information market and a coordination game is used to reveal and adjust for individuals' public information. A nonlinear aggregation of their decisions then allows for the calculation of the probability of the future outcome of an uncertain event, which can then be compared to both the objective probability of its occurrence and the performance of the market as a whole. Experiments show that this nonlinear aggregation mechanism outperforms both the imperfect market and the best of the participants.
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|a Copyright 2004 INFORMS
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|a Game theory
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|a Experimental economics
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|a Information aggregation
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|a Markets
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|a Scoring rules
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|a Forecasting
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|a Information science
|x Public information
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|a Philosophy
|x Metaphysics
|x Ontology
|x Atomism
|x Aggregation
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|a Behavioral sciences
|x Leisure studies
|x Recreation
|x Games
|x Gambling
|x Betting
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650 |
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|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial analysis
|x Risk management
|x Risk aversion
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650 |
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|a Economics
|x Economic disciplines
|x Information economics
|x Information economy
|x Information market
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650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Management science
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Financial markets
|x Market mechanisms
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650 |
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|a Business
|x Business operations
|x Commerce
|x Pricing
|x Prices
|x Market prices
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650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Descriptive statistics
|x Statistical distributions
|x Distribution functions
|x Probability distributions
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial management
|x Financial risk
|x Investment risk
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650 |
|
4 |
|a Information science
|x Public information
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650 |
|
4 |
|a Philosophy
|x Metaphysics
|x Ontology
|x Atomism
|x Aggregation
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650 |
|
4 |
|a Behavioral sciences
|x Leisure studies
|x Recreation
|x Games
|x Gambling
|x Betting
|
650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial analysis
|x Risk management
|x Risk aversion
|
650 |
|
4 |
|a Economics
|x Economic disciplines
|x Information economics
|x Information economy
|x Information market
|
650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Management science
|
650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Financial markets
|x Market mechanisms
|
650 |
|
4 |
|a Business
|x Business operations
|x Commerce
|x Pricing
|x Prices
|x Market prices
|
650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Descriptive statistics
|x Statistical distributions
|x Distribution functions
|x Probability distributions
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial management
|x Financial risk
|x Investment risk
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|a research-article
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|a Fine, Leslie R.
|e verfasserin
|4 aut
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|a Huberman, Bernardo A.
|e verfasserin
|4 aut
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|i Enthalten in
|t Management Science
|d Institute for Operations Research and the Management Sciences, 1954
|g 50(2004), 7, Seite 983-994
|w (DE-627)320623602
|w (DE-600)2023019-9
|x 15265501
|7 nnns
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773 |
1 |
8 |
|g volume:50
|g year:2004
|g number:7
|g pages:983-994
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|u https://www.jstor.org/stable/30047953
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|d 50
|j 2004
|e 7
|h 983-994
|