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Interpreting Prediction Markets: A Stochastic Approach

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Date

2012

Authors

Frongillo, Rafael M
Della Penna, Nicolas
Reid, Mark

Journal Title

Journal ISSN

Volume Title

Publisher

Neural Information Processing Systems Foundation

Abstract

We strengthen recent connections between prediction markets and learning by showing that a natural class of market makers can be understood as performing stochastic mirror descent when trader demands are sequentially drawn from a fixed distribution. This

Description

Keywords

Keywords: Making mechanism; Market analysis; Optimization problems; Prediction markets; Stationary points; Stochastic approach; Traditional markets; Walrasian equilibrium; Costs; Learning algorithms; Random processes; Stochastic systems; Commerce

Citation

URI

http://hdl.handle.net/1885/65138

Collections

ANU Research Publications

Source

NEURAL INFORMATION PROCESSING SYSTEMS. Advances in Neural Information Processing Systems 25: 26th Annual Conference on Neural Information Processing Systems 2012

Type

Conference paper

Book Title

Entity type

Access Statement

License Rights

DOI

Restricted until

2037-12-31

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01_Frongillo_Interpreting_Prediction_2012.pdf (1.21 MB)

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