Information Markets for Social Participation in Public Policy Design and Implementation

Abstract

In this paper we propose a research agenda on the use of information markets as tools to collect, aggregate and analyze citizens’ opinions, expectations and preferences from social media in order to support public policy design and implementation. We argue that markets are institutional settings able to efficiently allocate scarce resources, aggregate and disseminate information into prices and accommodate hedging against various types of risks. We discuss various types of information markets, as well as address the participation of both human and computational agents in such markets.