Many companies have also found benefits in using internal prediction markets to
forecast sales. One such example is a market developed by Hewlett Packard that
accurately forecasted printer sales better than their traditional processes (Plot…Berg, Joyce E., and Thomas A. Rietz. "Prediction Markets as Decision Support Systems." Information Systems Frontiers 5.1 (2003): 79-93. Kluwer Academic Publishers. Web. 8 Oct. 2012. <http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web…
Kay-Yut Chen
economist · 2 mentions across 1 reading
In this course
Kay-Yut Chen is an economist known for research on prediction markets and experimental economics, particularly his work with Caltech on designing market mechanisms for organizational forecasting. His collaboration with Plott on Hewlett Packard's internal prediction market demonstrates how market-based systems can outperform traditional forecasting methods, making him central to arguments about distributed intelligence and collective decision-making in corporate contexts. Chen's work sits at the intersection of behavioral economics and systems design, relevant to understanding how algorithmic and human intelligence can be coordinated through market structures.
Mentioned in 1 reading
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