A COMPARISON OF THE FORECASTING ACCURACY OF PREDICTION MARKETS AND EXPERT PRACTITIONERS (39)

Creating accurate forecasts to inform planning processes and organisational decision making is a perennial organisational challenge and the focus of a substantial body of research in management science, information systems and related disciplines. Prediction markets are a relatively novel Group Decision Support System (GDSS) which can be applied to this problem. This paper presents a study which compares the forecasting performance of a prediction market to a small group of experts