Gunnar_Zarncke comments on Decision Auctions aka "How to fairly assign chores, or decide who gets the last cookie" - Less Wrong
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This can be easily combined with this advice:
http://lesswrong.com/lw/j0f/link_bet_your_friends_to_be_more_right/
We do this quite some times. You can bet e.g. for household chores or treats. It is also helpful for my older sons to calibrate their confidence - esp. when betting for pocket money.