We determine the scoring rule that is most likely to select a high-ability candidate. A major result is that neither the widely used plurality rule nor the inverse-plurality rule are ever optimal, and that the Borda rule is hardly ever optimal. Furthermore, we show that only the...

In many countries, important thresholds in examinations act as a gateway to higher levels of education and/or good employment prospects. This paper examines the consequences of just failing a key high stakes national examination in English taken at the end of compulsory schooling in England. It...

Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature,...