The Role of Rationality in Prediction Markets

I'm mainly interested in prediction markets because it's a potential institution that we could create and then we could all be better off by having these prices. Most of the interest in prediction markets has come say through the book the wisdom of crowds are super forecasters where the content is mostly about which among us are better who are the people among us who are wiser and more rational and informed such that they could crow and brag about it. I fear there's just such a strong human tendency to want to collect these signs of I'm smarter than you or something like that. If there were a prediction market in few tarky itself what would the price of its realization be selling it? It would