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Release: Dec. 18, 2001

Forbes names Iowa Electronic Market website 'Best of Web'

IOWA CITY, Iowa -- In its Dec. 3 issue, Forbes magazine named the Iowa Electronic Markets (IEM) website as one of its "Best of The Web."

Forbes lists the IEM site ( under the subcategory "B-School Gurus," ( a section devoted to the best academic research sources for investors. Regarding the benefits of the IEM, Forbes noted "if efficient markets know best, the archived data available from the IEM should be better than any TV news poll."

The IEM shares the Forbes' list with web sites of business school luminaries such as Robert J. Shiller a professor from the Yale School of Management who wrote "Irrational Exuberance." The list also includes Jeremy Siegel, professor of finance at the Wharton School of the University of Pennsylvania, a noted author who is cited frequently in the financial media and who is an "active fan" of the IEM, according to IEM directors.

Started in 1988, the IEM is a non-profit teaching and research laboratory at the UI Tippie College of Business. Run by six Tippie College faculty, the IEM is a real-money market where major events, economic or political, result in contract payoffs. The IEM has conducted several political and business markets, including markets for the 2000 presidential elections, the New York Senate race, and Republican or Democratic control of the two houses of Congress. During the 2000 presidential elections, the IEM had 7,600 traders and over $240,000 in equity.

For more information about the IEM, call (319) 335-0881 or see