Forsythe, Robert; Frank, Murray; Krishnamurthy, V.; … - In: Canadian Journal of Economics 28 (1995) 4a, pp. 770-93
Economists believe that markets are exceptionally efficient aggregators of information. This research tests this theory by asking whether markets can successfully predict uncertain outcomes. Specifically, the UBC Election Stock Market (UBC-ESM) was created to see if market prices could be...