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Launching a Prediction Market

A few years ago, when James Surowieki’s book, The Wisdom of Crowds, came out, I became interested in prediction markets as a way to tap the collective wisdom of the participants in our innovation programs. While we provide the innovation teams with frequent feedback from senior management, program faculty, and other industry experts as they generate and develop their ideas, I have always felt we could improve getting the participants to support one another. They are typically so wrapped up in developing their own projects, as well as doing their regular…