Supply, Demand and Equilibrium
Credits: University of Iowa IEM*IDEA Project (Funded by the Fund for Improvement of Post-Secondary Education (FIPSE); Professor Thomas Gruca, University of Iowa; Professor Mark Pelzer, Kirkwood Community College
The Iowa Electronic Markets is a futures market run for research and teaching purposes. Traders can buy and sell real-money contracts based on their belief about the outcome of an election or other event. Using this "wisdom of crowds," the price of a contract at any given time is a forecast of the outcome.