'Swing State Index' aka The Wigand Electoral Average.
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In a new cooperative effort, grantcart and phrigndumass offer a new indicator that focuses on the critical swing states for the 2008 General Election, the Wigand Electoral Average (WEA).
Based on the same concept of the Dow Jones Industrial Average or S+P 500, we will use probabilities in 12 key swing states to serve as a basis for measuring the likely electoral college success of the Obama campaign in the General Election.
It factors in the 'Wisdom of Crowds' by following the movement of the 12 states based on the daily price of Intrade. We expect that it will be a more accurate indicator of electoral college success in the General Election than other indicators like the daily Gallup or Rasmussen polls. Its methodology follows that of the Dow Jones Industrial Average and will serve the same function -- establishing a bench mark and judging the changes in the "Swing State Electoral College Market." Each state will be weighted according to its Electoral College value in the same way that the Dow Jones weights the capital accumulation in each of the companies in its average.
It should be a clearer indicator of the state of the GE campaign than the Gallup or Rasmussen Daily polls or the RCP Average, which don't take into account either the perception of projected outcome (which Intrade does) or electoral college values.
In order to have an appropriate moniker we have decided to call this new indicator the
WIGAND ELECTORAL AVERAGE.
It honors the courage of Jeffrey Wigand who used science to speak to power. His courage enabled the courts and eventually Congress, to advance the will of the people in holding the Tobacco industry liable for its assault on public health. His actions were essential in laying the foundation for the The Tobacco Master Settlement Agreement (MSA). The Bush administration employed key Tobacco lobbyist Charles Black, Kirk Blalock and most famously Karl Rove who worked for Phillip Morris from 1991 to 1996.
http://www.stopcorporateabuse.org/cms/page1418.cfm The Bush Administration wiped out most of the penalties against Big Tobacco and settled reducing the penalty from $130 billion to $10 billion. So in a real sense the Wigand Electoral Average is an index of America returning to a better time, a time before the Presidency of George W. Bush.
His story became well known in the movie "The Insider" where he was played by Russell Crowe.
Jeffrey Wigand then returned to the classroom:
For four years Dr. Wigand taught Japanese and Science (Biology, Chemistry and Physical Sciences) at duPont Manual High School, a national school of academic excellence, in Louisville, Kentucky. He received national recognition for his teaching skills when he was awarded the Sallie Mae FIRST CLASS TEACHER of the YEAR in 1996. He was one of 51 teachers recognized nationwide.
Naming this new index The Wigand Electoral Average also, by extension, honors all teachers as well.
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More background on Jeffrey Wigand here:
Jeffrey Wigand in Wikipedia:
http://en.wikipedia.org/wiki/Jeffrey_Wigand Jeffrey Wigand's Home Page:
http://www.jeffreywigand.com/index.php Background on the Wisdom of Crowds prediction theory:
http://en.wikipedia.org/wiki/The_wisdom_of_crowds Intrade link:
http://www.intrade.com* * * *
How the Wigand Electoral Average WorksThe Wigand Electoral Average uses public polling results to determine base states for both parties and a short list of swing states, and combines the actual electoral votes from base states with a weighted Intrade calculation for electoral votes from swing states to derive an average on a scale of 0 to 100. On this scale, greater than 50.00 is considered a win.
The 12 key swing states used in the Wigand Electoral Average are:
Industrial Midwest/East:
Indiana (11)
Michigan (17)
Pennsylvania (20)
Ohio (20)
Rural Midwest:
Iowa (7)
Nebraska (5)
Wisconsin (10)
Missouri (11)
West:
Colorado (9)
New Mexico (5)
South:
North Carolina (15)
South Carolina (8)
These states are considered Obama base states:
California (55)
Connecticut (7)
Delaware (3)
District of Columbia (3)
Hawaii (4)
Illinois (21)
Maine (4)
Maryland (10)
Massachusetts (12)
Minnesota (10)
New Jersey (15)
New York (31)
Oregon (7)
Rhode Island (4)
Vermont (3)
Washington (11)
Total (200)
These states are considered McCain base states:
Alabama (9)
Alaska (3)
Arizona (10)
Arkansas (6)
Florida (27)
Georgia (15)
Idaho (4)
Kansas (6)
Kentucky (8)
Louisiana (9)
Mississippi (6)
Montana (3)
Nevada (5)
New Hampshire (4)
North Dakota (3)
Oklahoma (7)
South Dakota (3)
Tennessee (11)
Texas (34)
Utah (5)
Virginia (13)
West Virginia (5)
Wyoming (3)
Total (199)