Abstract:

This article presents a prediction market vendor's experience in providing publicly available and private play-money prediction market services to international corporations and other organizations. We describe why our experiences as IT and management consultants drove us to start the company and give an overview of the successes and pitfalls our clients have encountered during their prediction market trials. We also discuss several lessons learned we share with our clients in the areas of participation, incentives, communications, and appropriate questions to ask and explore why some prediction market pilots fail while others succeed.

Document Type: Research article