Prediction Markets – A literature review 2014

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Published: Sep 23, 2014
DOI: https://doi.org/10.5750/jpm.v8i2.889
Keywords:
Prediction Markets Literature Review Streams of Research Article Classification Information Markets

Main Article Content

Christian Franz Horn
Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)
Bjoern Sven Ivens
Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)
Michael Ohneberg
Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)
Alexander Brem
Mads Clausen Institute, University of Southern Denmark, Alsion 2, 6400 Sønderborg Denmark

Abstract

In recent years, Prediction Markets gained growing interest as a forecasting tool among researchers as well as practitioners, which resulted in an increasing number of publications. In order to track the latest development of research, comprising the extent and focus of research, this article provides a comprehensive review and classification of the literature related to the topic of Prediction Markets. Overall, 304 relevant articles, published in the timeframe from 2007 through 2013, were identified and assigned to a herein presented classification scheme, differentiating between descriptive works, articles of theoretical nature, application-oriented studies and articles dealing with the topic of law and policy. The analysis of the research results reveals that more than half of the literature pool deals with the application and actual function tests of Prediction Markets. The results are further compared to two previous works published by Zhao, Wagner and Chen (2008) and Tziralis and Tatsiopoulos (2007a). The article concludes with an extended bibliography section and may therefore serve as a guidance and basis for further research. (250 WORDS)

Article Details

Issue
Vol. 8 No. 2 (2014)
Section
Articles
Author Biographies

Christian Franz Horn, Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)

Christian Franz Horn works as a research and teaching assistant at the Department of Marketing, Otto-Friedrich-University of Bamberg, Germany.

Bjoern Sven Ivens, Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)

Prof. Bjoern Sven Ivens is head of the Department of Marketing at Otto-Friedrich-University of Bamberg, Germany.

Michael Ohneberg, Otto-Friedrich-University of Bamberg, Department of Marketing, Feldkirchenstrasse 21, 96045 Bamberg, (Germany)

Michael Ohneberg works at the Department of Marketing, Otto-Friedrich-University of Bamberg, Germany.

Alexander Brem, Mads Clausen Institute, University of Southern Denmark, Alsion 2, 6400 Sønderborg Denmark

Prof. Alexander Brem is theHhead of the Innovation & Business Research Unit at the Mads Clausen Institute, University of Southern Denmark

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