Monday, January 07, 2008

Googler's Bet Goobles On Predictive Markets During Their Free Lunch

A predictive markets is an exchange that predicts events based on the amount of money wagered on a specific outcome. Google uses Goobles, fake money, to let employees bet on certain outcomes. Why does Google encourage such activity from their employees? Google believes it generated creative ideas from their employees. It also helps stimulate an "optimism bias," which in turn encourages Google employees to work harder to achieve a certain outcome they have predicted in the predictive market. Finally, this game helps the company executives gage ideas that may come from a lower person on the Google food channel.

From Website Optimization and S√łkemotor Optimalisering

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