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Production Research via Decision Markets

By Ray Russ

Abstract

This paper examines the recent innovation of “decision markets” and how such markets can be utilized to support production research of all types. A comprehensive study of these markets concluded that decision markets possess an “uncannily accurate” ability to predict future events in business, economics, financial markets science, technology, politics, war, catastrophes and virtually every other realm of human and natural activity. As a decision-support system, knowing the probability of an event happening significantly facilitates the production research and planning associated with that event.

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