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Mechanism design typically involves the use of monetary payments to incentivize truthful reporting of private information. But what if payments are impossible? ... This letter summarizes recent work on how lotteries and the threat of non-allocation can be leveraged to similar ends in single-item allocation settings with a secondary good that can serve a limited numéraire ... So, one might ask, how are type-B goods any different from money? Are we in fact just doing a kind of money-based mechanism design by another name? ...doi:10.1145/2692375.2692382 fatcat:y37ax3xjf5csjmfoyv2kxsczpi
Using findings from recent work on incentive-compatible systems, we discuss several economic mechanisms and assumptions: money, punishment, and altruism. ... To maintain desirable system-wide properties in the presence of selfish users, designers are increasingly turning to the powerful mechanisms offered by economics and game theory. ... ACKNOWLEDGMENTS We thank Vijay Gopalakrishnan, Dov Gordon, Seungjoon Lee, and Cristian Lumezanu for their insightful comments and helpful discussions. ...doi:10.1109/gamenets.2009.5137390 dblp:conf/gamenets/LevinSB09 fatcat:eryaus55m5hqjbet6xtd2rhuuy
We introduce a method for issuing, and redeeming a digital coin using a mechanism to create a sustainable global economy and a free market. ... We propose a high level network architecture for an economic system that integrates money, governance and reputation. ... Without the right organisational mechanism, the common good is limited to libraries, hospitals and roads etc. ...arXiv:1508.05355v1 fatcat:lz3nf26qtjbfboghgr3m2qhsoy
In environments without aggregate uncertainty, the provision point is always reached in equilibrium as competition for reward money and preference for the public good induce sufficient contributions. ... The advantages of the mechanism are also demonstrated for collective action problems. ... ., the problem of the commons, the mechanism fails to achieve the efficient outcome without distributing reward money. ...doi:10.2139/ssrn.2225825 fatcat:bks3pe6yardznkd7ewiufxbtum
or some index of welfare. fare than in goods, and more interested in goods than in money. in promoting welfare and in producing goods to the necessity of making money; for if it does not make money it ... Making Goods and Making Money By WESLEY C Engineers and economists, according to the author, have always had a common interest in production, but they have worked on different parts of the problem and ...
We argue that Menger's insights about the origin of social structures inspired later contributions in three main areas: theory of spontaneous order, theory of money, and theory of law. ... extremely significant for its development come into being without a common will directed toward establishing them? ... for the exchange of the goods. ...doi:10.2478/slgr-2019-0009 fatcat:vtdkexmruvdzlllqsbbe46yz6e
We reformulate the optimal mechanism design problem and show that typically the optimal mechanism o¤ers MBGs to some subset of types. ... The buyer's value for the good exhibits ...t risk and his type is multidimensional giving the probability of ...t as well as the value in case of ...t. ... In these limit cases, without resorting to an analog of F4, we can more directly analyze the optimal mechanism design problems. ...doi:10.1055/s-0033-1336600 pmid:23609150 fatcat:s5qxnjbq3vf6zekm3v33u65zfq
Ambivalence of money, core role of financial mechanisms/relations in the economy but also for the existence of people imply that money and finance do not fit for private production. ... The identification of social provisioning as the process of provision of goods/services that market mechanisms cannot ensure is related to the definition and characteristics of public goods and commons ...doi:10.1080/00213624.2015.1042795 fatcat:omxstefu3zgopeisyp3nd4vz6m
Proceedings of the 1st International Workshop on Distributed Infrastructure for Common Good
We present six stringent criteria for designing trustworthy infrastructure, called zeroserver architecture. ... It enables smartphone apps to communicate without any servers, by forming a scalable overlay that uses our generic mechanism to build trust between peers, Trustchain. ... She discovered eight core design principles for any group whose members must work together to achieve a common purpose. ...doi:10.1145/3428662.3429744 fatcat:v4nkwng4cjadjeqc3fekrfkiue
We develop a framework for the design and analysis of money-burning mechanisms to maximize the residual surplusthe total value of the chosen outcome minus the payments required. ... Mechanism design is now a standard tool in computer science for aligning the incentives of self-interested agents with the objectives of a system designer. ... as powerful as mechanisms without money. ...doi:10.1145/1374376.1374390 dblp:conf/stoc/HartlineR08 fatcat:6hfwdojhsvdsdcj3ax4p5j25um
Handbook of Digital Currency
Instead, individuals can choose whether to work for the market (earning money) or for the commons (earning Sabirs), without having to give up one for the other. ... By virtue of the pricing mechanism, money can be used to evaluate the market value of a large variety of resources and price tag them into goods to be exchanged. ...doi:10.1016/b978-0-12-802117-0.00023-0 fatcat:nbjx4h4etfdntdwhcigt6tv6fa
The problem of designing a method for a pricebased mechanism for valuing environmental change is, conceptually, unsurmountable. ... Without money, the middlemen would have to become expert in all the goods and services they might receive in payment for certifying the quality of others.n Without money, asymmetric information about the ...doi:10.2307/3312808 fatcat:k3t27ta7p5bsfa5b2qdgnichqm
We find that welfare is higher in the model with money than without money, suggesting that money plays a role as an efficiency enhancing coordination device. ... We also study versions of the model without money where all equilibria involve non-monetary gift-exchange. ... The more substantive change in our modified experimental design is that the centralized meeting mechanism in both the money and no money treatments now involves a common, centralized trading post mechanism ...doi:10.1257/aer.104.6.1735 fatcat:27qrcni2f5ajhpelkuiz2sfjgi
Summary: “We propose a safe exchange mechanism involving indivisible goods and divisible goods. ... Two of them reduce the entry fee by integrating multiple deals and controlling the flow of goods and money. ...
Sage Public Administration Abstracts
ECONOMIC ANALYSIS, PROVISION POINT MECHANISM. PUBLIC GOODS. ... These results are an important step in the design of a mechanism simple enough to allow field appli- cations, but capable of efficiently providing public goods through voluntary con- tributions. ...
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