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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.

dl.acm.org

acm digital library home page

sciencedirect.com

sciencedirect is the world's leading source for scientific, technical, and medical research. explore journals, books and articles.

researchgate.net

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semanticscholar.org

Quick guide to get started with Semantic Scholar Academic Graph API.

link.springer.com

providing access to millions of research articles and chapters from science, technology and medicine, and humanities and social sciences

mdpi.com

MDPI is a publisher of peer-reviewed, open access journals since its establishment in 1996.

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.

spiedigitallibrary.org

search the spie digital library, the world's largest collection of optics and photonics peer-reviewed applied research. subscriptions and open access content available.