BRYAN CAPLAN
May 7, 2013
Keynesian Bets: What's Out There
May 6, 2013
Keynesian Bets Bleg
May 6, 2013
The Pyramid of Macroeconomic Insight and Virtue
May 2, 2013
A Natalist Provision
May 1, 2013
I Was a Teenage Misanthrope
DAVID HENDERSON
May 5, 2013
John Thacker on Vaccinations and the Sequester
May 3, 2013
Chef Rudy's Virtues Project
May 2, 2013
My take on Reinhart and Rogoff
May 1, 2013
Medicare Kills a Program


It doesn't seem so much a problem of who gets to tell the stories -- though more people is certainly better (with rapidly diminishing returns) -- but what incentives the story-tellers have to get it right.
Without proper incentives, we have 2 million rather than 2 hundred clowns passing on what their crystal ball reveals.
There has to be some way to turn this into a betting market. Or at least make it costly to vote on an idea, webpage, news item, etc. -- say, give the informavores a small and fixed number of votes per week. Suddenly they think twice about voting for a webpage because they're forced to think about the opportunity cost of that vote.
(Split the group of informavores into 7 equal sub-groups, and renew each one's vote basket on separate days of the week. This avoids people voting too much on items that appear earlier in the week, or being too stingy earlier in the week and holding out until the end, spending the left-overs on uninteresting stories.)
That's fine for things that don't have a right or wrong to them. But for things that do, we need something closer to betting markets.