57 karma · joined June 29, 2017
The idea is that the smart contract is a learning algorithm, and people can donate data to a public repository stored on a blockchain. The learned model is publicly available for everyone. People can also receive incentives for donating data in some implementations.
Similar, there are cases like "What is the capital of the state of New York?" A Schelling-point answer might easily be New York City, even though the correct answer is Albany. There's research on this stuff in the "peer prediction" a.k.a. "information elicitation without verification" literature, e.g. Prelec, Seung, McCoy 2017: https://marketing.wharton.upenn.edu/wp-content/uploads/2017/...
Instead, the problem is they still require an oracle for the actual event outcome. That is, everyone is betting on some event, but once it happens, an oracle is needed to tell the market what the actual outcome was. So they don't solve the oracle problem. They're another application that can make use of oracles.
We did discuss this and felt that a very deep dive would be needed. (A) It's not an objective no-brainer exactly what behavior you want to disincentivize. (B) The economic impacts/consequences could be huge, so the tradeoff needs to be carefully considered.
One example is Google Maps. Right now it has privacy drawbacks, but it also generates a lot of utility for a lot of people and is relatively freely accessible for individuals. You'd want to be careful about screwing that up. For example, incentivizing Google to switch to a paid access model.
I guess part of what this EFF article is saying is: these decisions are better treated as part of privacy law / human rights, rather than economics...I'd be interested to hear your thoughts!
Last year I was part of a working group on a data dividend proposal for the state of California, which you can read about at https://www.datadividends.org/ .
Our conclusions led us much closer to the spirit of this EFF article than the term "data dividends" might suggest. We recommended against any kind of personalized payments. We considered a small universal basic income funded by a "data tax", but because of the small amount (as mentioned by the EFF), we focused on use of a data tax to fund public projects and initiatives aimed at redistributing the benefits of data more equitably.
We mostly stayed away from recommending privacy or data ownership regulation because (a) California had recently passed the CCPA and (b) this question seemed outside of our mandate, but I agree that the two should be considered together.
It's designed to be accessible to anyone who has never heard of a prediction market. In fact, I would love to hear if you think this is a good prediction-market tutorial.
We wanted to make a site where people could have fun predicting Game of Thrones outcomes, without needing to know at first what a prediction market is.
I'm curious if this can be a good way to teach people about prediction markets. And most of all, we want people to have fun!
Any thoughts, suggestions, etc. appreciated!
I struggled with this choice myself and so far, decided to do the same as the author with a noscript tag to explain to the reader why I'm loading cloudfare code.
The generic question is: Given a loss function, what "property" of the distribution minimizes average loss; and given a "property", characterize all such loss functions. For example, Bregman divergences are (essentially) all losses that "elicit" the mean of a distribution. If you have any monotone continuous function g(), then |g(x) - g(s)| actually also elicits the median, and these are essentially all that do.
Apologies for self-promotion, but you can read more at references on this page (disclaimer: I'm one of the researchers who posted it): https://sites.google.com/site/informationelicitation/
or tutorials on this subject at my blog: http://bowaggoner.com/blog/series.html#convexity-elicitation
But, most probably don't have a strong opinion on whether/which labels apply! They would say they just do research in TCS.
Apologies if this seems like self-promoting my own slides -- and I should say I am not at all an expert here -- but I created them mainly because I had trouble finding a "primer", so maybe they can help others in a similar position.