The Wisdom of Crowds

Several years ago I wrote about prediction markets like As the U.S. Presidential election cycle heats up I find I am drawn back to this special kind of bookmaking operation on the Internet. You can see a long list of Presidential election predictions on the Intrade site.

The phrase The Wisdom of Crowds . . . → Read More: The Wisdom of Crowds

Using Google Search to Measure Unemployment

So, this is cool. As reported in the Freakonomics blog, Google has a feature that allows users to correlate public patterns with search term usage. You supply data, such as initial unemployment claims, and Google will evaluate which search phrases best correlate with the data provided. Justin Wolfers reports,

I fed in the weekly . . . → Read More: Using Google Search to Measure Unemployment