The intended March 2004 launch of the Policy Analysis Market has sparked some interest of late. Some comments and clarifications are in order.

A good analogy for what will be launched in March 2004 is an opinion survey based on a long questionnaire; however, you need only fill out the parts of the survey that you find interesting.

Respondents, who will be called traders, will have an incentive to focus on the subset of questions about which they feel they have the best information. [PAM seeks to improve] the way distributed information on matters of public importance is gathered and measured.