This paper examines the recent innovation of “prediction markets,” a new genre of financial markets, and how such markets can be utilized to assess, manage, and plan for risks of all types, including economic and financial risks. A comprehensive study of these markets concluded that...

This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: money uses the future in order to generate present wealth. Financial markets sell and buy risk, thereby binding the future. Elena Esposito explains that complex risk management...