Bayesian Investor Blog

Ramblings of a somewhat libertarian stock market speculator

Betting on Sex

Posted by Peter on December 18, 2005
Posted in: Humor, Idea Futures. Tagged: history, prediction markets.

I’ve been slowly working my way through a book by Richard Zacks called An Underground Education. I’ve found one section that deserves a blog entry of it’s own (I’ll discuss the rest of the book when I’ve finished reading it).
It describes a fairly popular betting-style market that ran from 1771 to 1776 in London about whether a diplomat named Chevalier D’Eon was male or female. D’Eon apparently acted and dressed at times as a man, and at other times as a woman, and refused to help the bettors settle their bets (even when D’Eon was offered a large amount of money to provide evidence of his/her sex). Eventually bettors got tired of waiting for an outcome and resorted to at least one lawsuit. The judge decided that D’Eon was a woman based on testimony from both sides of the lawsuit. Why did the side who had bet D’Eon was a man produce testimony that D’Eon was a woman? It was part of an accusation that the other side traded on what the SEC would call inside information. After D’Eon’s death, mortuary attendants said D’Eon was a man.
Aside from the obvious implications for how idea future style markets need to word claims so as to assure a practical means of observing whether a claim is true or not within a practical time period, this report also says some odd things about gender stereotyping. Lots of people probably think prior generations mostly had Victorian attitudes toward gender confusion, but it seems that D’Eon was sufficiently respectable in 1792 to have a dinner party thrown to honor both Thomas Paine and D’Eon.

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