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dc.contributor.authorLambert, Nicolas S.
dc.contributor.authorLangford, John
dc.contributor.authorWortman Vaughan, Jennifer
dc.contributor.authorChen, Yiling
dc.contributor.authorReeves, Daniel M.
dc.contributor.authorShoham, Yoav
dc.contributor.authorPennock, David M.
dc.date.accessioned2015-09-14T16:02:04Z
dc.date.issued2015
dc.identifierQuick submit: 2015-08-10T11:58:56-04:00
dc.identifier.citationLambert, Nicolas S., John Langford, Jennifer Wortman Vaughan, Yiling Chen, Daniel M. Reeves, Yoav Shoham, and David M. Pennock. 2015. “An Axiomatic Characterization of Wagering Mechanisms.” Journal of Economic Theory 156 (March): 389–416. doi:10.1016/j.jet.2014.03.012.en_US
dc.identifier.issn0022-0531en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:22556440
dc.description.abstractWe construct a budget-balanced wagering mechanism that flexibly extracts information about event probabilities, as well as the mean, median, and other statistics from a group of individuals whose beliefs are immutable to the actions of others. We show how our mechanism, called the Brier betting mechanism, arises naturally from a modified parimutuel betting market. We prove that it is essentially the unique wagering mechanism that is anonymous, proportional, sybilproof, and homogeneous. While the Brier betting mechanism is designed for individuals with immutable beliefs, we find that it continues to perform well even for Bayesian individuals who learn from the actions of others.en_US
dc.description.sponsorshipEngineering and Applied Sciencesen_US
dc.language.isoen_USen_US
dc.publisherElsevier BVen_US
dc.relation.isversionofdoi:10.1016/j.jet.2014.03.012en_US
dc.relation.hasversionhttp://www.jennwv.com/papers/axwagering.pdfen_US
dash.licenseOAP
dc.subjectBetting marketen_US
dc.subjectWagering mechanismen_US
dc.subjectParimutuel bettingen_US
dc.subjectScoring ruleen_US
dc.subjectBelief elicitationen_US
dc.subjectPrediction marketen_US
dc.titleAn axiomatic characterization of wagering mechanismsen_US
dc.typeJournal Articleen_US
dc.date.updated2015-08-10T15:59:23Z
dc.description.versionAccepted Manuscripten_US
dc.rights.holderNicolas S. Lambert, John Langford, Jennifer Wortman Vaughan, Yiling Chen, Daniel Reeves, Yoav Shoham, and David M. Pennock
dc.relation.journalJournal of Economic Theoryen_US
dash.depositing.authorChen, Yiling
dc.date.available2015-09-14T16:02:04Z
dc.identifier.doi10.1016/j.jet.2014.03.012*
dash.contributor.affiliatedChen, Yiling


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