Not all answers are dichotomous


Payoff table for modified Schelling Game, for more subjective judgement, when decision can’t be made, and the jury can ask for further evidence.




Reference





Decentralised Jury: https://kleros.io/assets/whitepaper.pdf





Or Something like this, that incentivizes participation even if the answer to the question is subjective.






Comments

Post a Comment

Popular posts from this blog

From hypocrisy to democracy, This way: Delegated Proof of Stake

Image
hyp·oc·risy [hypocrisy hypocrisies] behavior in which somebody pretends to have moral standards or opinions that they do not actually have dem·oc·racy [democracy democracies] 1) fair and equal treatment of everyone in a country or organization, etc, and their right to take part in making decisions 2) a system of government in which all the people of a country can vote to elect their representatives Yes, most democratic countries fulfill the second definition of democracy, but none to the first definition. Why Democracy is always unfair?  In an ideal world, elections should be two things: free and fair. Every adult, with a few sensible exceptions, should be able to vote for a candidate of their choice, and each single vote should be worth the same. Ensuring a free vote is a matter for the law. Making elections fair is more a matter for mathematicians. The many democratic electoral systems in use around the world attempt to strike a balance between mathematical fai
Read more

The Market for Lemons: How predatory journals make a new quality journal unsustainable for business?

Image
Nobel prize winner George Akerlof described how the quality of goods is degraded due to information asymmetry between buyers and sellers, leaving only “lemons” behind. Lemon is a vehicle with several manufacturing defects that buyers don’t know while buying. The mechanism: Suppose buyers can’t distinguish between a “peach” (high-quality car) and a “lemon”. A dishonest seller can sell the “lemon” saying it as “peach” at a price that is the average value of lemon and peach. So, in the market of lemon and peach, selling lemon will continue and sellers holding peaches will start leaving the market (as buyers can’t distinguish between lemon and peach, and lemon will have a lower price than that of peach). It produces a positive feedback loop because, when enough sellers of peaches leave the market, willingness to pay for buyers will decrease (as the average quality of cars on market decreased) leading to even more sellers of peach to leave the market. Due to lemons, or predatory journals, n
Read more

The Perfect Competition World

Image
perfect competition noun the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers. https://en.wikipedia.org/wiki/Perfect_competition Qs and As How new entrepreneurs will be created in a perfect competition market in the following example? An entrepreneur wants to start a business that requires high-end equipment. The price of high-end equipment is very high because it includes the labor cost of many people. But to run that high-end equipment, only one person is needed.  How will the person buy the equipment? In perfect competition, every participant is a price taker, and marginal costs should meet marginal revenue. But how both can be possible in this situation? If the entrepreneur takes a loan (some labor cost) of other participants, how will he/she repay the amo
Read more