In general, the concept of information markets is to provide a mechanism for players to "put their money where their mouth is" over a future event. If the market proves efficient and provides the right incentives, then the theory argues that the collective bets of "the crowd" will predict more accurately the future events than individual "know it all" experts.
The PolicyOracle is an information market. Your goal as a player is to estimate the potential outcome of a future event. Each future event is represented as a question. Predictions are made by buying virtual shares of the outcomes you think are going to boom, and selling them when you think these outcomes are going to touch ground. Your goal is to foresee trends ahead of the crowd: to invest in the outcomes that have low probabilities relative to their potential. If your predictions win, your fantasy fortune will grow. As a player, you contribute to the collective "wisdom of crowds" as the marketplace as a whole converges on a common vision of the future of the events.
PolicyOracle features an Automated Market Maker (AMM) trading mechanism, serving traders to freely buy and sell virtual shares in automatedly computed prices. From a trader's perspective, PolicyOracle is always the buyer and seller of shares without any limit to the quantity of the shares.
The PolicyOracle is part of the european research project SYMPHONY. The main purpose of this IM is to aggregate and interpret stakeholders' and citizens' opinions and expectations in order to improve public decision-making about problems of global relevance spanning from social, economic and financial, to ecological matters.