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Path: ...!weretis.net!feeder9.news.weretis.net!i2pn.org!i2pn2.org!.POSTED!not-for-mail From: ltlee1@hotmail.com (ltlee1) Newsgroups: soc.culture.china Subject: Re: How prediction markets saw something the polls and pundits =?UTF-8?B?ZGlkbuKAmXQ=?= Date: Sat, 9 Nov 2024 12:55:00 +0000 Organization: novaBBS Message-ID: <d8e97055484bedc68d8af71869497031@www.novabbs.com> References: <4e76ee420dc9c306580cd6a21f454065@www.novabbs.com> MIME-Version: 1.0 Content-Type: text/plain; charset=utf-8; format=flowed Content-Transfer-Encoding: 8bit Injection-Info: i2pn2.org; logging-data="1671694"; mail-complaints-to="usenet@i2pn2.org"; posting-account="pxsmGrN7Y7mF0hfJcY//7F6kiWqDRq/tZN4FOOcim3s"; User-Agent: Rocksolid Light X-Rslight-Posting-User: 0099cdd7dc5bd7b25c488bf8bcfab81a117b2ffc X-Spam-Checker-Version: SpamAssassin 4.0.0 X-Rslight-Site: $2y$10$FQ68BqoniLEg9amYSkEocu72fpslTAe2k4zd9N3o9T2ABGwpubS9a Bytes: 1475 Lines: 8 The former is a team's mostly rational effort in collecting and then turning collected information, more precise but less holistic, into probability. In contrast, gamblers' approach is more holistic but more ambiguous. Their action is also driven partly by emotion. Accuracy of the approach reflects social trend. Gamblers' approach would be a lot more reliable if the underlying society is under stress and seeking change. Rational analysis based on the old model would be proven to be wrong.