Predicting CW

rep_nom.jpg

A lot of people seem fascinated with things like the political predictions charts on Intrade. I, frankly, would very much like to be fascinated with them. But in reality, they're deadly boring. Take the betting on the Republican nomination, for example. It's clearly just a kind of lagging indicator of semi-informed conventional wisdom. The crowd didn't have a premonition of Mike Huckabee's rise and -- more damningly -- the crowd didn't have the foreknowledge to recognize that Huckabee's surge was going to lead to a backlash and heightened scrutiny. So he skyrockets up and then down he dips.

On the Democratic side, meanwhile, Hillary is currently valued at 66.9 and I'm absolutely certain that if she loses in Iowa (of which there's certainly more than a 33 percent chance of happening) then she'll plunge.

Not that any of that is wrong, but it's not especially interesting. You'd like to see some kind of noteworthy divergence between what the betting markets are saying and what people in DC speculate about around the water cooler. Instead, you get something that seems to be an equal blend of what people say around the water cooler with national polls. In formal terms, I guess the problem is that everyone is working off the same bits of inadequate information so nothing's really being aggregated. We all know what the latest polls say and that the outcomes in the early states matter more. Put all of us knowing the same thing together and what you get is dull, dull, dull.

Presented by

Matthew Yglesias is a former writer and editor at The Atlantic.

Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.

Video

The Health Benefits of Going Outside

People spend too much time indoors. One solution: ecotherapy.

Video

Where High Tech Meets the 1950s

Why did Green Bank, West Virginia, ban wireless signals? For science.

Video

Yes, Quidditch Is Real

How J.K. Rowling's magical sport spread from Hogwarts to college campuses

Video

Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

More in Politics

Just In