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ijasre.net

ijasre is a scholarly peer-reviewed, an open access multidisciplinary journal for publication of new ideas, the state of the art research results and fundamental advances in all fields of science, engineering and technology. the vision of ijasre is to publish original articles related to the current trends of research in the field of science, engineering, and technology. ijasre brings together scientists, academicians, engineers, scholars, and students of science, engineering, and technology.

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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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