April 5, 2013
launched today Stratecon Water Policy Markets (
). Water resource managers, planners, investors and individuals make decisions in the face of uncertainty about legislative and regulatory actions, political change, hydrology, project operations, litigation outcomes, and water prices. Discussions often are little more than unsubstantiated opinion. The water industry can do better.
have been used by the public and private sector to assess the risk of future events. Why not the water industry?" asks
Rodney T. Smith
, Ph.D., Stratecon's President. "With our experience and expertise in western water, this next frontier in
— prediction markets — will facilitate better, faster and cheaper decision-making."
Prediction markets trade contracts about future events. Market prices provide estimates of the probability of events occurring.
Stratecon will work with trade associations, companies, agencies, investment funds, professional service firms and individuals who sponsor customized prediction markets on
. Participation is open to anyone meeting eligibility requirements set by sponsors.
"I am pleased to be in partnership with Inkling Markets, a leader in prediction markets whose cutting edge technology provides a reliable and credible platform for flawless operation of water policy markets," Smith said. "I'm particularly impressed with Inkling's track record running thousands of markets whose closing prices accurately predict frequency of events actually occurring."
"The partnership with Stratecon is a new business model bringing together an industry leader's intellectual capital and our expertise to lead the adoption of prediction markets," said
, Founder and CEO of Inkling Markets. "Stratecon/Inkling creative energy will undoubtedly push technology in directions that increase the prominence of prediction markets in public and private sector decision-making."
About Stratecon Inc. and Inkling Markets