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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.

math.ucr.edu

College of Natural & Agricultural Sciences

technewsworld.com

tech news, reviews and analysis of computing, enterprise it, cybersecurity, mobile technology, cloud computing, tech industry trends, how-tos, digital marketing, and advertising advice.

linuxfr.org

l’actualité du logiciel libre et des sujets voisins (diy, open hardware, open data, les communs, etc.), sur un site francophone contributif géré par une équipe bénévole par et pour des libristes enthousiastes

transmitter.ieee.org

In the past decade, the agricultural industry has been faced with increasing pressure to produce food with higher requirements on safety and quality while

innovationnewsnetwork.com

RSS-Hydro’s new ‘Pin’ Earth observation concept has the potential to transform emergency response and global risk management.

reddit.com

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