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sciencedirect.com

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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.

researchgate.net

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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.

onlinelibrary.wiley.com

one of the largest and most authoritative collections of online journals, books, and research resources, covering life, health, social, and physical sciences.

scholar.google.com

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tandfonline.com

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nature.com

Nature is the foremost international weekly scientific journal in the world and is the flagship journal for Nature Portfolio. It publishes the finest ...

ieeexplore.ieee.org

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