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RobinHanson comments on Programmatic Prediction markets - Less Wrong
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Comments (18)
As stated, it isn't clear why you can't write a "program" that just does one trade and never does another one. So you need a clearer proposal.
As I said there would be costs associated with getting a new program added that would make this prohibitive for large scale traders.
If you tax programs, where does that revenue go, so that traders can expect to gain on average?
What I am thinking is of is a scheme like the following.
Allow one free change of program per time period, say a month. Extra program changes would require a small administration fee. There wouldn't be any fee for the programs to trade.
The exact details of this would depend on the market.