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Timeline of prediction markets

6 bytes added, 22:02, 30 September 2018
Full timeline
|1945
|Publication
|The economist {{W|Friedrich Hayek}} publishes the essay "{{W|The Use of Knowledge in Society}}" arguing that information is decentralized within an economy and how that contributes to efficiency. The essay initiates a wider interest for information in economics.<ref>{{Citation|last=Hayek|first=Friedrich|title=The use of knowledge in society|url=http://dx.doi.org/10.1017/cbo9780511817410.007|work=The economic nature of the firm|pages=63–68|publisher=Cambridge University Press|isbn=9780511817410|access-date=2018-09-30}}</ref> (In 2011, "The Use of Knowledge in Society" was selected as one of the top 20 articles published in the American Economic Review during its first 100 years.<ref>{{Cite journal|last=Arrow|first=Kenneth J|last2=Bernheim|first2=B. Douglas|last3=Feldstein|first3=Martin S|last4=McFadden|first4=Daniel L|last5=Poterba|first5=James M|last6=Solow|first6=Robert M|date=February 2011|title=100 Years of theAmerican Economic Review: The Top 20 Articles|url=https://www.aeaweb.org/articles?id=10.1257/aer.101.1.1|journal=American Economic Review|language=en|volume=101|issue=1|pages=1–8|doi=10.1257/aer.101.1.1|issn=0002-8282|via=}}</ref>)
|-
|1961

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