In coordination theory, markets stand for flexibility and dynamics. Today’s implementations of electronic marketplaces, however, limit the flexibility in a sense that processes along the market transaction are rigid and the provided functions proprietary. In order to further foster flexibility...

Peer-to-peer markets going mobile spur spontaneity in trading considerably. Spontaneity, however, imposes severe informational requirements on the market participants. Informational requirements are twofold: Firstly, participants have to agree on a common vocabulary for that spontaneous market....

The results of recent studies on prediction markets are encouraging. Prior experience demonstrates that markets with different incentive schemes predicted uncertain future events remarkably accurately. In this paper, we study the impact of different monetary incentives on prediction accuracy in...

The results of recent studies on prediction markets are encouraging. Prior experience demonstrates that markets with different incentive schemes predicted uncertain future events at a remarkable accuracy. In this paper, we study the impact of different monetary incentives on prediction accuracy...

Forecasting markets are a promising approach for predicting future events. The basic idea of a forecasting market is to trade virtual stocks whose final value is tied to a particular future event. The market prices can then be interpreted as predictions of the probability of those future events....

The results of recent studies on prediction markets are encouraging. Prior experience demonstrates that markets with different incentive schemes predicted uncertain future events remarkably accurately. In this paper, we study the impact of different monetary incentives on prediction accuracy in...

Prediction markets are a promising approach forpredicting uncertain future events and developments.These markets will work well if they are efficient and inefficient markets, one does not expect arbitrageopportunities to be persistent. This paper thereforestudies whether pure arbitrage...