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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.

theguardian.com

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scholar.google.com

google scholar provides a simple way to broadly search for scholarly literature. search across a wide variety of disciplines and sources: articles, theses, books, abstracts and court opinions.

nytimes.com

Wirecutter tests and reviews the best tech, appliances, gear, and more. You can trust our veteran journalists, scientists, and experts to find the best stuff.

vsni.co.uk

Learn why ANOVA F-tests and Fisher's LSD sometimes disagree, plus best practices for pairwise comparisons and avoiding multiple testing errors.

lectures.princeton.edu

To watch this event via live-stream feed, click here Martha C. Nussbaum is the Ernst Freund Distinguished Service Professor of Law and Ethics, appointed in the Philosophy Department and the Law School of the University of Chicago. She gave the 2016 Jefferson Lecture for the National Endowment for the Humanities and won the 2016 Kyoto Prize in Arts