DELIBERATION VS. MARKET INTERACTION: TWO COMPLEMENTARY PERSPECTIVES ON COLLECTIVE DECISION-MAKING
DELIBERATION VS. MARKET INTERACTION: TWO COMPLEMENTARY PERSPECTIVES ON COLLECTIVE DECISION-MAKING

Summary/Abstract: This paper analyses critically some opinions put forward by Cass Sunstein in a 2007 article on how information is aggregated and collectively used in what he calls “prediction markets”, as opposed to deliberating groups1. The author puts forward several arguments in support of prediction markets, with a view to extracting useful lessons in reforming or adjusting deliberative processes. Rather than providing arguments in support of one side or another, we argue that deliberation and „impersonal” market aggregation of information are intrinsically interconnected in collective decision-making.

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