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arxiv.org

A system of non-tradable credits that flow between individuals like karma, hence proposed under that name, is a mechanism for repeated resource allocation that comes with attractive efficiency and fairness properties, in theory. In this study, we test karma in an online experiment in which human subjects repeatedly compete for a resource with time-varying and stochastic individual preferences or urgency to acquire the resource. We confirm that karma has significant and sustained welfare benefits even in a population with no prior training. We identify mechanism usage in contexts with sporadic high urgency, more so than with frequent moderate urgency, and implemented as a simple (binary) karma bidding scheme as particularly effective for welfare improvements: relatively larger aggregate efficiency gains are realized that are (almost) Pareto superior. These findings provide guidance for further testing and for future implementation plans of such mechanisms in the real world.

inspirehep.net

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journals.aps.org

physical review journals

hzdr.de

The Helmholtz-Zentrum Dresden-Rossendorf is a member of the Helmholtz Association of German Research Centres pursuing new insights that will allow us to maintain and improve all of our lives. That is why the HZDR conducts research in the fields of Energy, Health and Matter in Dresden and at five other locations. Our large-scale facilities are also available to external guests from around the world to help answer the decisive questions of our societies.(Contact details: +49 351 260-0 / contact@hzdr.de)

protocols.io

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research.samsung.com

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iis.fraunhofer.de

Das Fraunhofer-Institut für Integrierte Schaltungen IIS ist eine weltweit führende anwendungsorientierte Forschungseinrichtung für mikroelektronische und informationstechnische Systemlösungen und Dienstleistungen.