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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.

overleaf.com

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github.com

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drive.google.com

learn how the suite of secure, online tools from google workspace empowers teams of all sizes to do their best work.

chemistry.harvard.edu

The faculty of Harvard University's Department of Chemistry and Chemical Biology pursue innovative research. Within this broad field, our faculty specialize in the following areas: Analytical, Biophysics, Catalysis, Chemical Biology, Energy Related, Inorganic, Materials, Organic, Organometallics, Physical and Chemical Physics, and Theoretical.

classics.ox.ac.uk

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