Government Futures Launches Prediction Market Tool to Tap the Wisdom of Crowds
WASHINGTON D.C. (PRWeb) January 30, 2007 -- Government Futures, a Web 2.0 analysis and consulting firm that taps collective intelligence to predict and shape future trends in the government technology and services sector, today launched "Bet the Future," a prediction market. The market enables government and industry thought leaders to pool their knowledge and more accurately predict technology, business and legislative events. The market results can improve the decisions leaders make in this rapidly changing environment.
"Prediction markets are collective intelligence tools for leaders who have decided to embrace change as a way out of the confusion and anxiety created by technical and social shifts," said Bruce McConnell, Government Future's president. "These markets are already used by large organizations around the world to inform key business and policy decisions; the tool is now available to the government-industry community." McConnell noted collective intelligence and other forms of social networking software are rapidly being adopted by business and government, driven in part by how the newest generation of employees communicates, creates, and shares ideas.
"Prediction markets excel at identifying the wisdom in crowds," said Michael Abramowicz, professor of law at George Washington University and author of a forthcoming book on the topic. "To date prediction markets have been used primarily for entertainment or research. The Government Futures market is exciting because it could have a significant effect on real world government and business decisions. These markets align with the trend toward personal empowerment, and the American value of informed, democratic participation."
Prediction: Size of the Federal IT Budget
Bet the Future's initial topics include predicting the size of the fiscal year 2008 federal information technology budget request, and the future of small business regulations. The site, powered by Inkling, allows members of the community to create markets around their own topics of interest. Participation is free, and "top traders" can win recognition and rewards.
Prediction markets operate like a stock market, with prices signaling information about the predicted outcome. Traders can make profits when prices rise or fall. Due to regulatory barriers, real money is not used in public markets.
A government experiment in hosting a public policy analysis market, proposed by the Defense Advanced Research Projects Agency (DARPA) in 2003, was cancelled after Congressional criticism. "DARPA's experiment was an early attempt to harness collective intelligence," McConnell said, "We hope to revitalize this tool to involve the public in identifying - and shaping - the future business, policy, and legislative environment.
About Government Futures, LLC
Government Futures, LLC is a Web 2.0 analysis and consulting firm that taps collective intelligence to help decision makers in the government-industry community understand and shape the future of the federal marketplace, and improve their position in it. Founded by community veterans Bruce McConnell and Margaret Anderson, and aided by a council of seasoned advisers, the company enables the community to collaborate and develop its own collective intelligence. Government Futures [advises companies and other organizations in the application of these results. For more information, or to participate in the community, please visit www.governmentfutures.com/?campaign=PRWebPredictionMarket1.30.07.
CONTACTS:
Margaret Anderson, Co-Founder
Government Futures, LLC
1301 K St. NW - Suite 450 West
Washington, DC 20005
703-573-0134
Media Contact:
Julie Keyser-Squires, APR
Softscribe Inc.
404-256-5512
###
How To Arrive And Thrive In The Uk.
The Only Complete Guide To Uk Immigration. Learn Safely How To Successfully Emigrate, Live And Work In Any Part Of Britain.
Related Articles:
Plexis Healthcare Introduces Agile, Scalable Government Procurement Solution
Quantum Choice Optimized to Manage Change in Government Healthcare
Florida Institute of Government to Host Public-Private-Partnership (P3) Summit for Government Leaders January 14-16, 2008
From January 14th through the 16th at the Holiday Inn Hotel and Conference Center, Melbourne, Florida will be the greatest opportunity to hear the nation's leading experts on P3 in Energy, Affordable Housing, Urban Planning, Financing, P3 legal arrangements, Financing, Hurricane building, School, Transit Oriented Development Projects, Highway Transportation, Privatization of City Government, Outsourcing, Water and Sewer projects and the East Lake Foundation success story.
Government Should Provide Flu Vaccine to All, Majority Believe
Most people believe that the government should make the flu vaccine available to all citizens who want it, thought most people also think the vaccine should be used for those most in need, according to a new survey conducted by morefocus, an online research organization.
MidCity Furnishes 130,000+ Square Feet of Office Space for New York State Office of Government Services
MidCity Office Furniture recently completed the installation of over 130,000 square feet of office space in four locations for New York State Office of Governmental Services.
Government Computer Rentals a Component to ?Green IT? Solutions For Federal, State and Local Government
Government computer rentals, together with short- and long-term leasing arrangements, are key components in governmental strategies that will lead to more efficient and greener delivery of government services As both government and private industry increasingly focus their attention on the impact their operations have on the environment, federal, state and local governments are all focusing more attention on how they can deliver services in a manner that is equally or more efficient, while reducing energy consumption
Government Give ?2.5 Million To The Wrong Newcastle
The government has been criticized after wrongly awarding ?2.5 million to the wrong Newcastle.
Frequently Asked Questions About Government Grants
Frequently Asked Questions about Grants From The Government
The United States Government Owes Arthur Anderson 16 Billion Dollars
Since the court case was over turned against Arthur Anderson in the Enron scandal, the United States Government owes Arthur Anderson sixteen billion dollars. This money should be taken out of the Justice Departments fund for pensions for all the government workers and paid to the damaged Arthur Anderson partners.
Admiral P.Kikareas President of the World Foundation For Peace & Security Announced that the World is in a Desperate Need for Our Government to do
With all the World being in a most critical situation without solutions and bleeding more and more Admiral P.Kikareas , President of World Foundation For Peace & Security, Well known expert of Crisis Management and Peace Advocate, announced that the World expects from our Government to take serious action and do as Alexander the Great did: take out his sword and cut the Gordios Desmos, in order to destroy the sources of the terror, and stop the approaching Great Catastrophe.
Redefined Media Sets New Standards for Companies Involved in Political Contributions and Government Contracts
Read crisis communications expert Richard Levick's advice for companies on what to do when caught in a political contribution or government contract investigation. Importance of the various media channels for today's companies.