A prediction market involves:
A) leveraging customers to virally promote a firm's products or services.
B) aggregating the opinions of a specialized group of experts who analyze a problem and suggest solutions.
C) making calculated estimates on the prices of goods and services based on the speculation of a group of experts.
D) polling a diverse crowd and aggregating opinions to form a forecast of an eventual outcome.
E) trading on essential goods and services with a view of making a profit by hiking prices at a time of high demand.

Question

Quizplus · Accepted Answer

Prediction markets involve polling a diverse group of individuals and aggregating their opinions to forecast an outcome. This method leverages the collective intelligence of a crowd to predict future events or outcomes.

A Prediction Market Involves