Teaching the Concept of Risk: Blended Learning Using a Custom-Built Prediction Market

Abstract

There has been much research into the role of technology in promoting student engagement and learning activity in third-level education. This article documents an innovative application of technology in a large, undergraduate business class in risk management. The students' learning outcomes are reinforced by activity in a custom-designed prediction market. The content of lectures are closely aligned to the student objectives within the prediction market, thus allowing the application of risk management practice while building knowledge through traditional delivery methods.