CONTACT: GEORGE MCCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
Release: May 15, 2000
Gore's lead drops in the Iowa Electronic Markets as McCain endorses Bush
IOWA CITY, Iowa -- The Iowa Electronic Markets (IEM) reacted strongly last
week to John McCain's support for George W. Bush.
Bush shares in the Presidential Vote Share Market have risen over 3 cents
since May 3, while Al Gore stock has dropped 1.8 cents. On May 5, Vice President
Al Gore led Gov. Bush by almost 6 percent; today the lead is down to less
than a point at 0.7 percent. Traders in the IEM believe that this race will
be a tight one if McCain supporters shift to the Bush camp, according to George
Neumann, UI professor of economics and an IEM director.
Although the endorsement did not take place until Tuesday, May 9, anticipation
of the endorsement drove down Gore prices starting on May 5. In successive
days the lead fell to 3 percent, then to 1.6 percent and finally to .7 percent.
For current prices, go to http://iemweb.biz.uiowa.edu/quotes/18.html.
Quotes are updated every 15 minutes; the "last" price is the best
indicator of market activity. The main IEM website is http://www.biz.uiowa.edu/iem/.
The Iowa Electronic Markets are real-money futures markets in which contract
payoffs depend on economic and political events such as elections. These markets
are operated by faculty at the University of Iowa Tippie College of Business
as a research and teaching tool.
For more information, contact the IEM office at (319) 335-0881, firstname.lastname@example.org,
or Jeanine Pfuntner, IEM operations manager at (319) 335-0794, email@example.com.
A chart is available showing recent market activity.