I might be missing something, but I got the impression that your interpretation is, it’s an all-or-nothing game where the winner is the person who made the most money. But the more natural interpretation seems to be: your utility function is just the amount of money you made. So, it’s not important whether you made more than another player, only the absolute amount is important. The latter is more in line with simulating prediction markets (and is most easily achieved if the game is on real money).
Robin explicitly said “the person with the most money wins” and that’s the most natural way of viewing it as a game. Of course, there’s nothing *wrong* with doing it the other way, and it creates more accurate (realistic?) prices and markets, as I note. But it’s important to note that *as a game* it’s more interesting to try and get the most money, than it is to simply make good trades. If it’s normal trading you’re all tactics and no strategy. This way you get both, plus the thrill of victory and the agony of defeat.
I might be missing something, but I got the impression that your interpretation is, it’s an all-or-nothing game where the winner is the person who made the most money. But the more natural interpretation seems to be: your utility function is just the amount of money you made. So, it’s not important whether you made more than another player, only the absolute amount is important. The latter is more in line with simulating prediction markets (and is most easily achieved if the game is on real money).
Robin explicitly said “the person with the most money wins” and that’s the most natural way of viewing it as a game. Of course, there’s nothing *wrong* with doing it the other way, and it creates more accurate (realistic?) prices and markets, as I note. But it’s important to note that *as a game* it’s more interesting to try and get the most money, than it is to simply make good trades. If it’s normal trading you’re all tactics and no strategy. This way you get both, plus the thrill of victory and the agony of defeat.
Oh, now I see that you do mention it. I missed that part, my apologies.