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RobinHanson comments on Test Your Rationality - Less Wrong
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Prediction markets tend to be zero-sum games. Most rational agents would prefer to play in a real stock market - where you can at least expect to make money in line with inflation.
The relevant category is constant-sum games, and stock markets are that as well if liquidity traders are included in the relevant trader set. One can subsidize prediction markets so that all traders can gain by revealing info.