How prediction markets create harmful outcomes: a case study

https://awful.systems/post/4079749

How prediction markets create harmful outcomes: a case study - awful.systems

Lemmy

Lol love how the good analysis just misses that people without disposable income are now excluded, it puts a price on participating in the public discourse.

people without disposable income are now excluded

The article does say/link:

I’ve previously talked about how it may not always be ethical to require people to bet on their beliefs, and talked about how the interests of rich people could bias certain prediction markets

As for

The bullshit artist prevention also doesnt work

In the footnote it does say:

This doesn’t work for very longterm bets, and it also wouldn’t convince everyone, since conspiracy theorists still exist. Still, I expect it to be helpful on average.

Although there’s likely still an overestimation of how much it would help

When we shouldn’t tax bullshit

And when we should

Collective Altruism
I started reading the post about wealth bias and was immediately distracted by the fact that they’re trying to call a government based on prediction markets a “futarchy” which speaks to these people being entirely the wrong kind of terminally online.
Hell yeah rule by dickgirls