It is underway, from Iowa, here is one story. And here is a betting market in how much a pandemic would damage the Dow, about ten percent it seems.
Avian flu futures market
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H5N1 market has been available on tradesports (now intrade) for nearly a year.
“agricultures futures market…..corn, pork bellies”
resmbles the Dutch 16th century “TULIP MANIA” when people engaged in futures trading, guessing on the number of tulip bulbs much before planting itself.
Psstt… Tyler Cowen made a mistake, naming the NewsFutures avian flu forecast… a “betting market”. It’s not a series of prediction market; it’s “competitive forecasting”.
http://www.midasoracle.org/2007/03/01/iowa-electronic-markets-avian-influenza-prediction-markets-influenza-prediction-markets/
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