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The Nobel Assembly at the Karolinska Institute announced today that Michael Rosbash, a Howard Hughes Medical Institute (HHMI) investigator at Brandeis University, Jeffrey C. Hall of Brandeis University and Michael W. Young of the Rockefeller University are the recipients of the 2017 Nobel Prize in Physiology or Medicine for their discoveries of molecular mechanisms controlling the circadian rhythm.

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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.

pubmed.ncbi.nlm.nih.gov

Gates Foundation, St Jude Children's Research Hospital.

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