REQUESTS FOR PROPOSALS
FAME project as an educational Tool
In addition to being a rich resource to generate data for the social sciences, Fame Project can also facilitate education in coterminous disciplines. Fame Project presents a unique opportunity to aid educators in engaging students to disseminate topics that may otherwise seem pedantic or abstract. In particular, it can be used similar, or in addition to “Stock Market Simulators.” These simulators are commonly employed in classrooms to illustrate Economics and Finance concepts such as Supply and Demand, Imperfect Information, Expected Value, Efficient Market Hypothesis, and so on. As titillating as a volatile stock market simulation can be, students may not find interest in the underlying exercise, which is ultimately to speculate on the value attributed to the financial performance of large corporations. Utilizing other educational tools may be warranted. Indeed, employing Fame Project for classroom instruction provides the following benefits, among others:
Students are likely to be familiar with the events and news that animate the market since Fame Project is focused on popular culture events and news.
Explaining the market’s financial instruments is simple; Value is entirely derived on the binary outcome of a well defined event (“Yes, this event will occur, or “No” it will not)
Explaining the expected value of the financial instruments is easy to grasp; Its share price resolves to $1 if the event happens and $0 if it does not happen. Therefore the expected value in cents is simply the probability of the event occurring.
Fame Project will provide limited real-trading money, complimentary. Students will have “skin in the game” and be more engaged.
As FRF benefits from the revenue generated by Fame Project, we are able to fund the development of lesson plans employing Fame Project-based exercises. Therefore, researchers are encouraged to submit lesson plan proposals to FRF here. We ask that interested parties download and utilize our Lesson Plan Proposal Submission Template. Along with the template, we also ask that the Curriculum Vita of the Proposal Lead be included in the submission.
The guidelines are:
Proposals must be in English.
Lesson plans must be appropriate for use in U.S. post-secondary institutions.
Any coursework topics will be considered as long as the use of Fame Project to facilitate the dissemination of those topics is appropriate.
Special consideration will be given to lesson plans that are to be integrated with commonly undertaken coursework.
A substantial portion of the lesson plan must employ the Fame Project market.
Materials with the potential for publication in a text book will be given special consideration.
Each accepted proposal is eligible for up to $20,000 in grant funding. Up to three proposals will be funded, though the ultimate number of awards shall be based on the merit of the proposals.
the use of Prediction market data in the social sciences - literature review
A Request for Proposals shall be announced soon.