Chris F. Masse .COM takes me to task in an extended comment on my post about the WSX advisory board. In an extended conversation I like to qualify all statements, then qualify my qualifications, driving my partner crazy. I leave most of that out when writing. Equivocation follows. Masse commented:
As for Cass Sunstein, he is a law professor, not an economist —just a detail missing in your upbeat piece. And in his blog entries that you so eagerly point to, he didn’t seem to show any real mastering of the topic. (Cass Sunstein being a friend of your friend Lawrence Lessig, I guess that’s what explains you lack of critical reasoning here —you spare it for your blog entries on Bush #43 and the U.S. military.)
I can only cite economists? You’re correct that Sunstein’s posts this summer at best demonstate that he’s coming from a completely different world. If I recall they prompted lots of virtual head scratching in comments. I expect to have many critical comments about his forthcoming book. For the record I loathe protectionist whiner John Edwards, another past Lessig guest blogger.
What makes you think that the play-money WSX is going to surpass the long-established TradeSports/InTrade U.S. political prediction markets!????
(You said “could”, OK. Your mother didn’t raise any risk-taking fool.)
Actually my equivocation went much further than “could” — “If the Washington Stock Exchange advisory board is any indication, WSX could displace IEM and Tradesports as the source for quotable market odds for the 2006 US elections. The AB may mean nothing…”
I didn’t spell it out, but I think at best WSX could become the preferred market for the media to quote. As a play-money market it is only a very indirect theat to TradeSports. Still, my post was too uncritical. Thanks for calling me on it.
By the way, Masse now has an RSS feed which I highly recommend subscribing to if you’re interested in the latest news and opinion on prediction markets, along with the occasional rant in the form of a deeply bulleted list. Unfortunately only the last have permalinks.