> What are good examples of their “disbenefits”?
Overwhelmingly unaddressed externalities.
Overwhelmingly unaddressed externalities.
except for incentivizing action to tilt the odds, which is weirdly amoral. if you bet on a bad thing happening, you can cash in by making it happen yourself.
It depends on what's at stake. One example is predicting someone's death.
> if you bet on a bad thing happening, you can cash in by making it happen yourself.
Yes, and that could be a huge problem, don't you think? It creates an incentive for a bad thing happening that wouldn't exist otherwise.
I say this as someone who is in huge favor of markets but also hates their externalities.