Social Networks and Prediction Markets

OK.  Valid point.  But there are more straightforward ways to establish a prediction market than by putting your social network to work.

Weak Ties and Diversity in Social Networks – Bokardo

What struck me about Anne and Andrew’s pieces was the implicit idea of the value of diversity. Neither mentioned this explicitly, but for those familiar with James Surowiecki’s work The Wisdom of Crowds, diversity is crucial to wisdom, and thus problem solving. Weak ties helps explain how we continually introduce diversity within our social groups, by periodically leveraging those relationships with people outside our close-knit social networks.