Prediction Markets: A Bettor Way Of Forecasting

ABC National Radio has a 12 minute audio discussion about prediction markets, their use and high degree of accuracy by Andrew Leigh, an Economics Professor at the Australian National University.

Betting on political outcomes, economic outcomes, even box office success for movies: there's a burgeoning industry based on prediction markets.

Andrew Leigh, our regular Wryside Economics commentator, argues that betting markets are more accurate than polling when it comes to political predictions, in particular.

He is also an author on Core Economics blog.