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Information Aggregation Mechanisms: Concept, Design and Implementation for a Sales Forecasting Problem

Plott, Charles R. and Chen, Kay-Yut (2002) Information Aggregation Mechanisms: Concept, Design and Implementation for a Sales Forecasting Problem. Social Science Working Paper, 1131. California Institute of Technology , Pasadena, CA. (Unpublished) https://resolver.caltech.edu/CaltechAUTHORS:20140317-135547085

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Abstract

Information Aggregation Mechanisms are economics mechanisms designed explicitly for the purpose of collecting and aggregating information. The modern theory of rational expectations, together with the techniques and results of experimental economics, suggest that a set of properly designed markets can be a good information aggregation mechanism. The paper reports on the deployment of such an information aggregation mechanism inside Hewlett-Packard Corporation for the purpose of makings sales forecasts. Results who that IAMs performed better than traditional methods employed inside Hewlett-Packard. The structure of the mechanism, the methodology and the results are reported.


Item Type:Report or Paper (Working Paper)
Additional Information:The financial help of the National Science Foundation and DARPA are gratefully acknowledged. Effort sponsored by the Defense Advanced Research Projects Agency (DARPA) and Air Force Research Laboratory, Air Force Material Command, USAF, under agreement number F30602-00-2-0623. The US Government is authorized to reproduce and distribute reprints for Governmental purposes notwithstanding any copyright annotation thereon. The views and conclusions contained herein are those of the authors and should not be interpreted as necessarily representing the official policies or endorsements, either expressed or implied, of the Defense Advanced Research Projects Agency (DARPA), the Air Force Research Laboratory, or the U.S. Government.
Group:Social Science Working Papers
Funders:
Funding AgencyGrant Number
National Science FoundationUNSPECIFIED
DARPAUNSPECIFIED
Air Force Research Laboratory, Air Force Material CommandF30602-00-2-0623
Series Name:Social Science Working Paper
Issue or Number:1131
Record Number:CaltechAUTHORS:20140317-135547085
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20140317-135547085
Official Citation:Plott, Charles R. and Chen, Kay-Yut. Information Aggregation Mechanisms: Concept, Design and Implementation for a Sales Forecasting Problem. Pasadena, CA: California Institute of Technology, 2002. Social Science Working Paper, 1131.
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:44358
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:27 Mar 2014 21:13
Last Modified:03 Oct 2019 06:17

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