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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.

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inspirehep.net

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routledge.com

The Internet of Things (IoT), with its technological advancements and massive innovations, is building the idea of inter-connectivity among everyday life objects. With an explosive growth in the number of Internet-connected devices, the implications of the idea of IoT on enterprises, individuals, and society are huge. IoT is getting attention from both academia and industry due to its powerful real-time applications that raise demands to understand the entire spectrum of the field. However, due to increasing security issues, safeguarding the IoT ecosystem has become an important concern. With devices and information becoming more exposed and leading to increased attack possibilities, adequate security measures are required to leverage the benefits of this emerging concept. Internet of Things Security: Principles, Applications, Attacks, and Countermeasures is an extensive source that aims at establishing an understanding of the core concepts of IoT among its readers and the challenges

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