Re: MidEast Futures Markets Coming Soon

From: Robin Hanson (rhanson@gmu.edu)
Date: Fri Jun 06 2003 - 15:27:59 MDT

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    On 6/7/2003, Brett Paatsch wrote:
    > > Idea Futures "Markets in the Future of the MidEast" will be
    > > open to the public for real money trading October 1, 2003:
    > > www.PolicyAnalysisMarket.org ...
    >
    >What about transaction fees? What would be the basic
    >transaction unit?(presumably in US$).

    US$, and no transaction fees, other than the fact that you
    might not be paid interest on your deposit.

    >How do the contracts get defined? It would seem that
    >the contracts must be based on binary and clearly verifiable
    >propositions but there are a large number of such possible
    >propositions how would these be arrived at?

    The Economist Intelligence Unit will be the final judge and
    definer. More details will be forthcoming.

    >Has this sort of futures market been created before?

    Nope.

    Robin Hanson rhanson@gmu.edu http://hanson.gmu.edu
    Assistant Professor of Economics, George Mason University
    MSN 1D3, Carow Hall, Fairfax VA 22030-4444
    703-993-2326 FAX: 703-993-2323



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