Jennifer Wortman 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.

US Patent:

20140372342, Dec 18, 2014

Filed:

May 7, 2012

Appl. No.:

14/116163

Inventors:

Yiling Chen - Cambridge MA, US
Jennifer Wortman Vaughan - Venice CA, US
Jacob Duncan Abernethy - Ann Arbor MI, US

Assignee:

The Regents of the University of California - Oakland CA
President and Fellows of Harvard College - Cambridge MA

International Classification:

G06Q 40/06

US Classification:

705 36 R

Abstract:

Method and systems for design and operation of a prediction market. A plurality of security bundles and a plurality of payoff vectors may be defined, such that each payoff vector in the plurality of payoff vectors is associated with at least one outcome in a plurality of outcomes. A prediction market engine may be provided for determining a price for each security bundle in the plurality of security bundles by using at least one processor to minimize a convex function over a convex set comprising a convex hull of the plurality of payoff vectors.