That is the title of my most recent published paper, which appears on pages 316-331 of Volume 18 of the Journal of Law & Public Policy (JLPP). In brief, I build on F. A. Hayek’s classic work “The use of knowledge in society” to propose a new kind of information market in fake news and conspiracy theories and the like. The abstract of my paper is below:

A growing chorus of scholars and policy makers have decried the proliferation of false information on the Internet—fake news, conspiracy theories, and the like—while at the same time downplaying the dangers of Internet censorship. This Article proposes a simple alternative to censorship: a retrodiction market in which participants buy and sell belief contracts.