Jennifer L Vaughan

US Patent:

20160148310, May 26, 2016

Filed:

Nov 20, 2014

Appl. No.:

14/548531

Inventors:

- Redmond WA, US
Rafael Frongillo - New York NY, US
Jennifer Wortman Vaughan - New York NY, US

International Classification:

G06Q 40/04

Abstract:

A computer system implements an automated multi-user, multi-event real-time online prediction market, thus providing a more efficient and accurate mechanism to collect opinion information in digital form. The amount of liquidity in the market can be changed as a function of time to reflect how valuable information is at any given time. A computer that implements a prediction market, which offers securities for a plurality of events, is programmed to allocate a data structure for storing a transaction history, access current time information and define a cost function for the market. In one implementation, the cost function switches from a first function to a second function at a point in time prior to occurrence of an event. In another implementation, the cost function can be time dependent so as to gradually change over time.