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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.

bbsonline.org

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cognitivesciencesociety.org

Lila R. Gleitman, a winner of the David E. Rumelhart Prize for her contributions to the theoretical foundations of human cognition, passed away on August 8, 2021.

ase.tufts.edu

tufts university is a world-class private research university in greater boston that provides an education like no other.

human-nature.com

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psychology.org

Find out what it takes to enter the psychology field and how to build a successful career on the most comprehensive site for psychology schools and careers.

investigacion-psicopedagogica.org

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