Business executives always make predictions but are not always happy making them. Accuracy is difficult, especially the longer they extend into the future.
On the assumption that those who are more certain of a prediction will bet on it, actual prediction markets have been developed. Prediction markets are not new, having been used to anticipate winners of presidential elections and Super Bowls. But now we have what have been called business futures, for forecasts on GDP and unemployment.
Check out www,cfo.com for more information on the subject.
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