On February 25, 2008 you could have purchased a futures contract from Intrade th

Question

On February 25, 2008 you could have purchased a futures contract from Intrade that would pay you $1 if Barack Obama won the 2008 Democratic Party nomination. At a price of $0.81, the contract for Obama carried the highest price of any Democratic candidate at the time. This tells you _______________. A. that the market believed that Obama had 81% chance of winning B. that the market believed that Obama had the least chance of winning C. nothing about the markets' belief concerning the odds of Obama winning D. that the market believed Obama's chances of winning were about 19%

Explanation / Answer

C. nothing about the markets' belief concerning the odds of Obama winning

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