|The UBC Election Stock Market is
closed permanently and has been superseded by the
Sauder School of Business
Prediction Markets, which will be launched on Friday,
February 1, 2013. Please take note of the
new web address: predictionmarkets.ca. A press
release will be forthcoming when the new market opens.
The UBC Election Stock Market was a financial market in which the
ultimate values of the contracts being traded were based on the outcome
of provincial or federal elections in Canada. Participants invested
their own funds, bought and sold listed contracts, earned profits and bore
the risk of losing money.
The ESM was operated as a not-for-profit venture. The method of
issuing contracts and making final payoffs on these contracts ensured
that the ESM did not realize financial profits or suffered losses. No
commissions or transactions fees were charged.
The exclusive purposes for conducting this market were teaching and
research. Through the ESM, participants learned first-hand about the
operation of a financial market and, because they had an added
incentive to do so, they often became better informed about not only
the current election but also the election process itself. As a
research project, the ESM generated valuable data that provided
insights into market and trader behaviour. Participation in the ESM was
open to all Canadian residents who are at least 19 years of age.
Prof. Thomas Ross, Ph.D.
Prof. Werner Antweiler, Ph.D.
2013 Sauder School of Business,
University of British Columbia.