Networked Markets
Networked Markets
This chapter focuses on the questions raised by access to networked markets in which one can participate with thousands or millions; specifically, of what constitutes presence and co-presence in private and in public, especially when one is participating in pari-mutuel gambling or financial markets. Horse racing facilitated the growth of networked markets with the introduction of an early computer, the totalizator, which determined odds based on bets in pari-mutuel markets. The sport, once an almost exclusively an embodied sporting and betting experience, is today a business dependent upon immediate and far-reaching information flows, and on crossing the public/private divide. Racing's experiences in disseminating and handling information provide a useful framework for thinking about other formerly public, temporally driven, information intensive, computer-mediated forms of presence including online information markets, financial markets, auctions, and voting.
Keywords: markets, networks, presence, computers, pari-mutuel, totalizator, gambling, information flows
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