Schock Market seeks advertising on Godwits
Online PR News – 02-January-2020 – Bend, Oregon – Internet startup, Schock Market, Inc. (www.schockmarket.com) seeks to auction advertising space on threatened bird species, including the leg bands of Bar-Tailed Godwits.
The auctions are being managed through newly conceived claim markets. These markets have been pioneered by Stanford University graduate, Spencer Schock.
The markets are designed to unfold in phases.
In the first phase, individuals register as participants at www.schockmarket.com/Profiles/Register. Participants attempt to predict revenue that could be garnered from each advertising proposal. When participants guess correctly, they become eligible to earn payouts, potentially in the thousands of dollars.
In the second phase, corporations bid for advertising space, for example, on Godwit leg bands.
During this second phase, proceeds from the on-going auction are revealed to taxpayers and governing authorities. The Godwit market could conceivably reap $2 million for conservation efforts.
In the final phase, completed markets must be approved by the U.S. Department of Interior. The goal is for early participants, the winning corporation(s), and conservation-minded citizens to intensely lobby federal officials for market approval.
Schock suggests that democratic societies fail to embrace innovative solutions, often due to uncertainty associated with free markets.
Claim markets resolve this problem by providing a high definition look into the future of a proposed market. It is important to note that claim markets do not model a future outcome. Instead, claim markets are the future outcome. Schock achieves this distinction by replacing a single financial transaction, with a multitude of claims.
Schock suggests knowing market winners in advance will provide citizens with an opportunity to pioneer innovative solutions within the public sector. Says Schock, “Claim markets are a sandbox for building and testing new conservation ideas.”
There is no cost for individuals or corporations to participate at Schock Market.
The site opens with four conservation markets for threatened bird species: California Condors, Gunnison Sage Grouse, Bar-Tailed Godwits, and the Red Knot.
Media inquiries to:
Schock Market, Inc.