Prediction Games and Market Mechanisms


    Department of Decisions, Operations and Technology &

    Department of Systems Engineering and Engineering Management

                       The Chinese University of Hong Kong


Date:15 March 2024 (Friday), 3:00 pm

Venue: LT3, Cheng Yu Tung Building, CUHK

Title: Prediction Games and Market Mechanisms

Speaker: Prof. John R. BIRGE, Hobart W. Williams Distinguished Service Professor of Operations Management, The University of Chicago Booth School of Business



Prediction markets can aggregate information from a group of heterogeneously informed agents but well-informed agents may have an incentive to manipulate the market and to extract surplus at the expense of the other players and a market maker if any.  In some cases, a market maker may, however, be able to design a mechanism that prevents manipulation but can still encourage participation.  This talk will describe conditions that lead to such outcomes and general situations in which information is aggregated and a market maker also has an incentive for participation.


Everyone is welcome to attend the talk!

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Friday, March 15, 2024 - 15:00