BELIEF FUTURES
Glenn Reynolds and others (abundant links at InstaPundit) have been writing about the controversy over Pentagon funding for a futures market to predict terrorist attacks. There's a bigger context here, which was ably explained in a column by my Economic Scene colleague Hal Varian, based on a paper by GMU's Robin Hanson titled, "Shall We Vote on Values, but Bet on Beliefs?" If you're interested in this controversy, the column is a must-read.