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Leaders flatline in election week debate

FOR IMMEDIATE RELEASE

Leaders flatline in election week debate

Helen Clark and John Key’s chances of leading New Zealand’s next government both flatlined in tonight’s TV3 debate, just days before the 2008 General Election.

Traders on iPredict, New Zealand’s online futures prediction market, made little change in their predictions during the debate, which saw Mr Key’s chances of being the next Prime Minister remain unchanged at 75 cents and Miss Clark’s chances of re-election at 25 cents.

"Traders generally respond to new market information, so the little change in stock values during the debate indicates that neither leader had revealed anything new tonight to dramatically change their election prospects,” iPredict CEO, Matt Burgess, said.

Contracts on iPredict pay $1 each if a defined event comes true and the prices that these contracts trade for is the prediction.

“The price of 75 cents for stock in John Key as the next Prime Minister can be interpreted as a 75% likelihood at the current time of National winning the election,” Mr Burgess said.

iPredict is owned by Victoria University and the Institute for the Study of Competition and Regulation. It is authorised by the Securities Commission as a futures dealer. The primary purpose of iPredict is research and education. Anybody can browse iPredict and see the predictions for free by going to www.iPredict.co.nz. Traders must be 18 years and older to set up an account. Accounts are free to set up and people can start trading with as little as $5.

ENDS


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