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DanielLC comments on Buy Now Or Forever Hold Your Peace - Less Wrong
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Has anybody thought of prediction markets as a form of insurance? Suppose you don't like Hillary, then you can bet she wins the nomination. If she doesn't, you're happy because you don't like her. If she does, you win some money, either way you win.
Of course, if people did this it would make prediction markets less accurate.
I know Steven Hawking did. He bet against the existence of black holes. If it turned out all that work he did was worthless, at least he'd get a free magazine subscription.