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...driving force behind prediction markets is something called information aggregation. Traditionally, it has been the realm of professionals such as pollsters or weather forecasters or the CIA. Those experts tend to be knowledgeable but are prone to certain limitations: personal bias, groupthink, clashing personalities. "In companies, not only are people afraid to get an answer, they are afraid of asking the question," says Emile Servan-Schreiber, CEO of NewsFutures Inc., which sells markets programs to corporations. So a market can benefit from outsiders' views that are reflected, in real time, in the form of prices. The dirty secret is that...
...supposed to be simple. Two years ago, as Cantabrigians headed to the polls on Election Day, observers predicted an easy victory for all nine City Council incumbents.That’s just the way things work in Cambridge: barring any radical developments, voters tend to stick with the political status quo. But by the end of the night, all bets were off. After the first-place votes had been tallied, mouths hung agape in the Cambridge Senior Center, where the city’s political classes gather every two years for the ballot count. Sitting in eighth place?...
...some good news, and they didn't get it." The results fueled Democratic hopes for a takeover of one or both houses of Congress, although the small number of races in play makes Democratic strategists doubt that is feasible. The off-year governors' races in Virginia and New Jersey tend to be overstated as omens for the following midterm elections, and Bush's aides recognize he is in for a drubbing by the pundits. Republicans point out that the party in the White House has not won a Virginia governor's race since 1973, and that they still hold...
...life for minority women that African-American banker Erika Irish Brown, 36, felt comfortable asking to place her fiancé's son on her health plan while she worked for a minority-owned media company. "I felt it was something that was accepted there," she says. "Women of color tend to bear greater responsibilities at home, and we need all the support we can get." She doesn't know whether the benefit would have been extended to her on Wall Street, where Brown recently returned. But as head of recruiting for diverse, experienced professionals at Lehman Brothers, she feels confident that...
...exposed to a lot of family entertainment. When you watch so much of a genre, you get inspired. I don't think standards are as high for family movies, which is nice as a filmmaker 'cause you can take more chances. So little is expected of you, the studios tend to leave you alone...