Using prediction markets to deliver authentic learning experiences

Buckley, P. and Garvey, J. and McGrath, F. (2011) Using prediction markets to deliver authentic learning experiences. In: Technologies for Enhancing Pedagogy, Engagement and Empowerment in Education: Creating Learning-Friendly Environments. IGI Global, pp. 42-57. ISBN 9781613500743 (ISBN)

Full text not available from this resource.
Official URL:


Mass higher education presents serious problems to implementing active learning. Large class sizes means that traditional active learning strategies are becoming more and more difficult to implement, due to the administrative burdens associated with them. In this chapter, the authors present prediction markets as a pedagogical tool which can be used to allow teachers to implement active learning in a large group teaching environment without imposing prohibitive administrative overheads. They outline the benefits for students in the cognitive and affective domains of learning. They move on to present a case study describing in detail how our methodology can be implemented and conclude by presenting research on the effectiveness of our approach in the cognitive domain of learning. The authors conclude that prediction markets are a powerful tool for implementing active learning in a large group teaching environment. © 2012, IGI Global.

Item Type: Book Section
Additional Information: Export Date: 23 February 2015; Correspondence Address: University of LimerickIreland; References: Benbunan-Fich, R., Hiltz, S., Mediators of the effectiveness of online courses (2003) IEEE Transactions on Professional Communication, 46 (4), pp. 298-312. , doi:10.1109/TPC.2003.819639; Bostock, S.J., Constructivism in mass higher education: A case study (1998) British Journal of Educational Technology, 29 (3), pp. 225-240. , doi:10.1111/1467-8535.00066; Burke, L.A., Moore, J.E., A perennial dilemma in ob education: Engaging the traditional student (2003) Academy of Management Learning & Education, 2 (1), pp. 37-52. , doi:10.5465/AMLE.2003.9324016; Christiansen, J.D., Prediction markets: Practical experiments in small markets and behaviors observed (2007) The Journal of Prediction Markets, 1 (1), pp. 17-41; Dunlap, J.C., Grabinger, R.S., Rich environments for active learning in the higher education classroom (1996) Constructivist Learning Environments: Case Studies in Instructional Design, pp. 65-82. , In Wilson, B. G. (Ed.); Gibbs, G., (1992) Teaching Large Classes in Higher Education: How to Maintain Quality with Reduced Resources, , London, UK: Kogan Page; Hadley, N., An empowering pedagogy sequence for teaching technology (2002) Journal of Computing in Teacher Education, 19 (1), pp. 18-22; Hativa, N., Lack of clarity in university teaching: A case study (1998) Higher Education, 36 (3), pp. 353-381. , doi:10.1023/A:1003401111968; Hogan, D., Kwiatkowski, R., Emotional aspects of large group teaching (1998) Human Relations, 51 (11), pp. 1403-1417. , doi:10.1177/001872679805101104; Kinchin, I.M., Chadha, D., Kokotailo, P., Using powerpoint as a lens to focus on linearity in teaching (2008) Journal of Further and Higher Education, 32 (4), pp. 333-346. , doi:10.1080/03098770802392923; Lemak, D.J., Reed, R., Montgomery, J.C., Shin, S.J., Technology, transactional distance, and instructor effectiveness: An empirical investigation (2005) Academy of Management Learning & Education, 4 (2), pp. 150-159. , doi:10.5465/AMLE.2005.17268562; McAvinia, C., Oliver, M., "But my subject's different": A web-based approach to supporting disciplinary lifelong learning skills (2002) Computers & Education, 38 (3), pp. 209-220. , doi:10.1016/S0360-1315(01)00080-X; Noble, G., Yanamandram, V., Student experiences and perceptions of team-teaching in a large undergraduate class (2006) Journal of University Teaching & Learning Practice, 3 (1); Phillips, R., Challenging the primacy of lectures: The dissonance between theory and practice in university teaching (2005) Journal of University Teaching & Learning Practice, 2 (1). ,, Retrieved from; Roettger, C., Roettger, L., Walugembe, F., Teaching: More than just lecturing (2007) Journal of University Teaching and Learning Practice, 4 (2), pp. 119-133; Servan-Schreiber, E., Wolfers, J., Pennock, D.M., Galebach, B., Prediction markets: Does money matter? (2004) Electronic Markets, 14 (3), p. 243. , doi:10.1080/1019678042000245254; Shih, M., Feng, J., Tsai, C., Research and trends in the field of e-learning from 2001 to 2005: A content analysis of cognitive studies in selected journals (2008) Computers & Education, 51 (2), pp. 955-967. , doi:10.1016/j.compedu.2007.10.004; Stephenson, J., (2001) Teaching & Learning Online: New Pedagogies for New Technologies, , London, UK: Kogan Page; Tompson, G.H., Dass, P., Improving students' self-efficacy in strategic management: The relative impact of cases and simulations (2000) Simulation & Gaming, 31 (1), pp. 22-41. , doi:10.1177/104687810003100102; Tziralis, G., Tatsiopoulos, I., Prediction markets: An extended literature review (2007) The Journal of Prediction Markets, 1 (1), pp. 75-91; Wolfers, J., Zitzewitz, E., Prediction markets (2004) The Journal of Economic Perspectives, 18 (2), pp. 107-126. , doi:10.1257/0895330041371321; Zantow, K., Knowlton, D.S., Sharp, D.C., More than fun and games: Reconsidering the virtues of strategic management simulations (2005) Academy of Management Learning & Education, 4 (4), pp. 451-458. , doi:10.5465/AMLE.2005.19086786
Depositing User: Colin Lowry
Last Modified: 27 Nov 2015 02:35

Actions (login required)

View Item View Item


Downloads per month over past year