Googler’s Bet Goobles On Predictive Markets During Their Free Lunch
Jan 7, 2008 at 9:02am ET by Barry Schwartz
Google’s Lunchtime Betting Game from the New York Times describes a game Google employees are encouraged to play during their lunch break. The game is betting fake money, Goobles, on predictive markets.
A predictive market is an exchange that predicts events based on the amount of money wagered on a specific outcome. Google uses Goobles, fake money, to let employees bet on certain outcomes. Why does Google encourage such activity from their employees? Google believes it generated creative ideas from their employees. It also helps stimulate an “optimism bias,” which in turn encourages Google employees to work harder to achieve a certain outcome they have predicted in the predictive market. Finally, this game helps the company executives gauge ideas that may come from a lower person on the Google food channel.
The Goobles, currency in this game, can be exchanged for prizes of up to $10,000 per quarter. Some Googlers have even built programs to help automate some of their bidding. Yes, they built trading robots to be smarter about where they spend their Goobles.
Share, Bookmark & Discuss This Article
More:
Keep Updated: News Via Email | News Via RSS Feed | News Via Twitter
See more stories like this in the Members Library! Check out the Google: Employees sections of the Members Library where this story is filed. Members also get access to exclusive video content, a members-only weekly & monthly newsletter, plus more. Check out all the benefits!
TOP STORIES
SEARCH NEWS BRIEFS
FEATURES & ANALYSIS
RECENT COMMNENTS
- Buy Advertising said " I've been experimenting with the merger of advertising and entertainment. I think that it can be bot"
- nickstamoulis said " Wow, this is very interesting, I was not aware of the the Google Books case at all, I will be sure t"
- nickstamoulis said " These are all very cool, my personal favorite 4th logo is the Ask.com layout, it is very creative!"
FREE DAILY SEARCH NEWS RECAP!
Stay on top of all the search news with our daily summary, the SearchCap newsletter. View a sample ›
STAY CURRENT THROUGHOUT THE DAY
Search Engine Land produces SMX, the Search Marketing Expo conference series. SMX events deliver the most comprehensive educational and networking experiences - whether you're just starting in search marketing or you're a seasoned expert.
SMX Web Site » | SMX Difference » | SMX News »
Join us at an upcoming SMX event:
- SMX Singapore - July 2-3, 2009
- SMX São Paulo - August 4-5
- SMX East - October 5-7, 2009
- SMX Stockholm - 12-13 October, 2009
- SMX Mexico - November 11, 2009
Learn more about search marketing with our free online webcasts and webinars from our sister site, Search Marketing Now. Upcoming online events include:
- How Large Offline Marketers Drive Superior Search Marketing Results - July 21, 2009
- Trademarks, Brand Terms and PPC Advertising: Updates You Must Know - July
22, 2009
- Attribution Management Buyers Guide - July 28, 2009
TRACK US SOCIALLY
- Wall Street Journal Recommended Reading
- Ad Age Power 150 Blog
- Technorati Top 100 Blog
- Techmeme Leaderboard Source
- Best Search Engine Community/Forum
Featured sites from our Blogroll
- The Alchemy of Search
- ResearchBuzz
- ProBlogger Blog Tips
- Usability and Accessibility
- Internet Stocks on Seeking Alpha
Get Your Search Engine Land
Premium Membership!
Become a premium member today and receive:
- Express commenting privileges & photo.
- Exclusive videos & newsletters.
- Discounts to our SMX conferences.
- Access to "How To" & Other Archives.
© 2009 Third Door Media, Inc. All rights reserved. Google, Yahoo & Microsoft logos trademark respective companies and used with permission.
