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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.

nwo-i.nl

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eng.uwo.ca

Western Engineering is strongly committed to research directed towards benefiting our society. Our faculty members are responding to critical challenges faced around the world. Our leading-edge research provides the foundation for graduate student training and undergraduate learning.

amsterdamsciencepark.nl

Discover how Amsterdam Science Park’s R&D, innovative community and spacious facilities can help your business make its next major breakthrough.

cs.rutgers.edu

Computer Science; Rutgers, The State University of New Jersey

phy.cam.ac.uk

New analytical work by Cavendish Laboratory researchers shows how true energy gaps can arise in quasicrystals, answering a longstanding open question about these extraordinary materials.   Quasicrystals sit between ordinary crystals and fully disordered materials: their atoms...

di.unipi.it

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hub.wpi.edu

IT Service & Support enables the effective use of technology for teaching, learning, research, and the administrative work of the University by providing technology and mobility solutions, support, IT content and communications.