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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.

projecteuclid.org

I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications, a better understanding of the applicability of these methods may arise.

overleaf.com

An online LaTeX editor that’s easy to use. No installation, real-time collaboration, version control, hundreds of LaTeX templates, and more.

onlinelibrary.wiley.com

one of the largest and most authoritative collections of online journals, books, and research resources, covering life, health, social, and physical sciences.

academic.oup.com

Oxford Academic

tex.stackexchange.com

Q&A for users of TeX, LaTeX, ConTeXt, and related typesetting systems

openreview.net

Promoting openness in scientific communication and the peer-review process

cran.r-project.org

An ODBC database interface.