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University of Iowa News Release


Aug. 18, 2008

New external board to provide strategic advice to Iowa Electronic Markets

The University of Iowa's Tippie College of Business has created an external advisory board to provide strategic guidance for the Iowa Electronic Markets (IEM) Institute.

"This new governance structure will enable the institute to not only meet the challenges associated with a hotly contested presidential election but to also realize the vast potential of predictive markets to solve problems and aid decision making in the private and public sectors," said William C. "Curt" Hunter, dean of the Tippie College of Business and one of the advisory board members.

Hunter's expertise includes the areas of monetary policy, banking and financial markets. Prior to his deanship at the University of Connecticut, he served as senior vice president and director of research at the Federal Reserve Bank of Chicago and as an associate economist on the Federal Reserve's Federal Open Market Committee.

The other advisory board members are:

-- Michele Gambera, senior research consultant and the chief economist in the research group at Ibbotson Associates, a wholly owned subsidiary of Morningstar Inc. He contributes to Ibbotson Associates' asset allocation and investment processes and writes the firm's investment strategy and market commentaries.

-- John W. Labuszewski, managing director of research and product development at the Chicago Mercantile Exchange where he is responsible for the exchange's product development efforts. Labuszewski is the author of four books on financial markets.

-- David Marshall, senior vice president of the financial markets group of the Federal Reserve Bank of Chicago. His research focuses on linkages between financial markets, financial institutions and macroeconomic performance.

-- Marc Mills, vice president for legal affairs and general counsel for the UI. He serves as the chief legal officer for the university, coordinating the provision of legal services to all UI units and providing legal advice and counsel.

The board will be expanding its membership over the coming year.

Joyce Berg, associate professor of accounting and Pioneer Hi-Bred Research Fellow in the Tippie College, is interim director of the Iowa Electronic Markets. Members of the IEM Steering Committee are Tom Gruca, Henry B. Tippie Research Professor in marketing; Tom Rietz, Hershberger Research Fellow in finance; Forrest Nelson, Henry B. Tippie Research Fellow in economics; and George Neumann, George Daly Professor of Economics.

The Iowa Electronic Markets Institute was created to recognize ongoing developments in the private and public sectors where predictive markets are being used as robust tools for solving an interesting and growing variety of problems. These areas of application include: new product development, risk management, prediction of box office revenues and sales, pandemics and crisis events, and manufacturing capacity, among numerous others.

STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Iowa City, Iowa 52242-2500

MEDIA CONTACT: Joyce Berg, Iowa Electronic Markets,, 319-335-0840; Tom Snee, 319-384-0010 (office), 319-541-8434 (cell),