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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.

openreview.net

Promoting openness in scientific communication and the peer-review process

dl.acm.org

acm digital library home page

ieeexplore.ieee.org

ieee xplore, delivering full text access to the world's highest quality technical literature in engineering and technology. | ieee xplore

researchgate.net

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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.

proceedings.mlr.press

The mixing time of a Markov chain is the minimum time t necessary for the total variation distance between the distribution of the Markov chain’s current state X_t and its stationary distribution t...

ai.umich.edu

Supporting Life-Changing EducationThe Academic Innovation Fund has supported hundreds of innovations from U-M faculty and staff that benefit U-M students and global learners. Learn MoreHelping Students Build Early Academic MomentumThe Center for Academic Innovation is working with university partner