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title: '""We only ran the 2012 US Presidential Election ..."',
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anchorContext: 'Bayesian: Are we going there? I guess we're going there\\. My good Scientist, I mean that if you offered me either side of an even\\-money bet on whether Plum committed the murder, I'd bet that he didn't do it\\. But if you offered me a gamble that costs \\$1 if Professor Plum is innocent and pays out \\$5 if he's guilty, I'd cheerfully accept that gamble\\. We only ran the 2012 US Presidential Election one time, but that doesn't mean that on November 7th you should've refused a \\$10 bet that paid out \\$1000 if Obama won\\. In general when prediction markets and large liquid betting pools put 60% betting odds on somebody winning the presidency, that outcome tends to happen 60% of the time; they are well\\-calibrated for probabilities in that range\\. If they were systematically uncalibrated\\-\\-if in general things happened 80% of the time when prediction markets said 60%\\-\\-you could use that fact to pump mony out of prediction markets\\. And your pumping out that money would adjust the prediction\\-market prices until they were well\\-calibrated\\. If things to which prediction markets assign 70% probability happen around 7 times out of 10, why insist for reasons of ideological purity that the probability statement is meaningless?',
anchorText: 'We only ran the 2012 US Presidential Election one time, but that doesn't mean that on November 7th you should've refused a \\$10 bet that paid out \\$1000 if Obama won\\.',
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text: '"We only ran the 2012 US Presidential Election one time, but that doesn't mean that on November 7th you should've refused a $10 bet that paid out $1000 if Obama won."\n\nFirst of all, as non American I do not know what is specific about November 7th. Second, I think that some people may do not even know, that Obama has actually won.',
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