Re: How amblers can make a better world
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There needs to be a neutral decision maker stating what the outcome of the bet was. For example, it would be bad if the house had an interest in the outcome, because the market can only function if bettors believe that the house is neutral. Therefore, the house should simply create the market and take a small fee from each wager. Also, it would be bad if the pollster at Pew were allowed to bet on the outcome of a Pew poll.
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This is pretty much betfair to a tee, I'm not even sure if they didnt run a market on finding WMD.
Regards Mack
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This idea goes back AFAIK to Robin Hanson's idea futures.
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