Prediction Markets are here…

Well they always were. We are beginning to realize the presence.

Dus Ka Dum (power of 10) is a reality show hosted by popular Indian actor, Salman Khan. The show progresses by asking the player a question, the answer of which tries to predict a percentage. A possible question is “What percentage of votes will the Congress Government win if India has a general election today?”. Answering five correct questions would bring Rs. 10 crores ($2.5M). The correctness of the answer is measured by the fact that it falls in a particular range of the correct answer. The first question allows a 40% window around the correct answer and wins you $250, the second allows a 30% window and wins $2500, the third allows 20% with $25,000 return, the fourth returns $250,000 with a 10% window. The bull’s eye is for the fifth answer with a $2.5M cash prize. Continue reading

Age of the Wikimania: the importance of online collaboration

Wikinomics

The Web 2.0 and the easy access to bandwidth has ushered in some new paradigms in collaboration. The rise of the wikipedia (in general the open source wiki frameworks such as mediawiki) and P2P frameworks have transformed knowledge sharing in the open-source (or should i say open-knowledge) world.

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