Free writes...prediction market

1. Briefly Describe the prediction market

Prediction market is the tool for people to make prediction on markets. More people involved will bring more accurate prediction. There are non-cost prediction market websites too.
It is really useful for people if they are confused by where to invest their money. If you are buying low and selling high you are following right way but if it is opposite you may need to think deeply to invest your money. Those people who are betting wrong way will be disgracing from the prediction market.

2. the pros and cons of using prediction market compared to the traditional group meeting

The cons for the prediction market is it may cause huge miss leading if everyone follows majorities. It would be hard for people to create the alternative way...

the pros is you can take your time to think and relax. Group meeting will be more intense and you are supposed to be prepared for sharing your sources to others. You don't have to do that when you go to the prediction market on web.


3. how the prediction produced by the market reflects “the wisdom of crowds”?

Crowds bring more accurate prediction generally. it is better for players to have the advantage of wisdom of crowds. Accuracy and collaboration of knowledge bring more accurate prediction than smaller groups.