Browsing Faculty of Arts and Sciences by Author "Devanur, Nikhil R."
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Removing arbitrage from wagering mechanisms
Chen, Yiling; Devanur, Nikhil R.; Pennock, David M.; Vaughan, Jennifer Wortman (Association of Computing Machinery, 2014)We observe that Lambert et al.'s [2008] family of weighted score wagering mechanisms admit arbitrage: participants can extract a guaranteed positive payoff by betting on any prediction within a certain range. In essence, ...