In his book, The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations (title long enough for you?), James Surowiecki argues that decisions made by a crowd are generally better than those made by any single individual in the group. Seems like a lot of theoretical hogwash until you see this thesis put to action in the real world via a prediction market. A prediction market (also called a decision market) is, as its name implies, a market created specifically to predict the likelihood of...