The contest will see more than 30 academic teams from over 20 universities make predictions for average UK monthly rainfall and temperature for each of the next six months, as they vie for the chance to win a total of £55,000 in cash prizes.
The competition – open to entrants from UK universities until the initial auction closes at 8am on Monday 12 March – precedes the launch of Winton’s Climate Prediction Market, which will allow individuals to take long-range views on climate variables several decades into the future.
Trading for the UK competition will commence on Monday 12 March, and there will be separate markets for each of the six months of April through to September. The cash prizes will be awarded to the institutions of the first 10 teams, with a top prize of £10,000.
The market for each month will be settled using the values of maximum temperature and rainfall published by the Met Office.
Visit the Climate Prediction Market website to register your interest in the competition.