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jessieloves.substack.com

One subject, everything I love. A deep dive into my best resources and a behind-the-scenes look at my creative life. Twice a month, by me, Jessie Randall, founder of Loeffler Randall. Click to read Jessie Loves, by Jessie Randall, a Substack publication with tens of thousands of subscribers.

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.

nytimes.com

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news.google.com

Comprehensive up-to-date news coverage, aggregated from sources all over the world by Google News.

eastbayinsiders.substack.com

East Bay political news, insights from city hall insiders. Click to read East Bay Insiders Newsletter, by Steve Tavares, a Substack publication with thousands of subscribers.

github.com

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linkedin.com

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