uring the “Doges on Trial” live testing, Zeller — the moonlighting onlin
d the incentives are really on the side of good decisions.” He believes the system encourages jurors to vote for the minority if they believe it’s the most fair outcome that will prevail in the end. That’s because appeals escalate to be heard by twice as many jurors — and if a decision is overturned, it’s quite lucrative for original minority jurors. “You are grabbing all the stakes from the ‘wrong’ majority in the first round, which is crazy good financially for you,” he said.Do-it-yourself ...
uring the “Doges on Trial” live testing, Zeller — the moonlighting onlin
d the incentives are really on the side of good decisions.” He believes the system encourages jurors to vote for the minority if they believe it’s the most fair outcome that will prevail in the end. That’s because appeals escalate to be heard by twice as many jurors — and if a decision is overturned, it’s quite lucrative for original minority jurors. “You are grabbing all the stakes from the ‘wrong’ majority in the first round, which is crazy good financially for you,” he said.Do-it-yourself ...
Expertise? We have a theory for that
Expertise? We have a theory for thatBoth Metzger and Schmitz raise concerns that jurors without appropriate expertise can “self-select” the sub-courts they wish to work on. However, there are disincentives for jurors selecting the wrong courts. For example, in a sub-court devoted to disputes involving web design, jurors who know nothing about web design are more likely to vote differently than the others who do. So, they’re more likely to lose tokens. “If you don’t know about website design, ...
Expertise? We have a theory for that
Expertise? We have a theory for thatBoth Metzger and Schmitz raise concerns that jurors without appropriate expertise can “self-select” the sub-courts they wish to work on. However, there are disincentives for jurors selecting the wrong courts. For example, in a sub-court devoted to disputes involving web design, jurors who know nothing about web design are more likely to vote differently than the others who do. So, they’re more likely to lose tokens. “If you don’t know about website design, ...
here are no rules of evidence, no judge to ensure both parties receive a fair hearing,
“But there’s no proof of that yet; it’s just an assumption based in game theory.”Game theory isn’t perfectGame theory is applied to situations where decision-makers interact strategically and follow rules based behavior — when they act rationally and purposefully to maximize their own advantages. One criticism is that people often behave in a way game theorists might view as irrational or against their own interests. Think of a religious person refusing medical treatment or someone harboring ...
here are no rules of evidence, no judge to ensure both parties receive a fair hearing,
“But there’s no proof of that yet; it’s just an assumption based in game theory.”Game theory isn’t perfectGame theory is applied to situations where decision-makers interact strategically and follow rules based behavior — when they act rationally and purposefully to maximize their own advantages. One criticism is that people often behave in a way game theorists might view as irrational or against their own interests. Think of a religious person refusing medical treatment or someone harboring ...
s they can also lose tokens, they’re essentially gambling on their own ability to predict the “correct” outcome.
It’s still the early days — a total of around 70 jurors have judged matters worth about $300,000. Most of the 130 cases so far required the jurors to decide whether an Ethereum token was suitable for listing on Bitfinex exchange offshoot Ethfinex, which has since morphed into the decentralised exchange DeversiFi (which still uses Kleros for listings). The list of approved Ethereum tokens is also available in custom front ends for Uniswap and DutchX. The system was first tested with “Doges On ...
s they can also lose tokens, they’re essentially gambling on their own ability to predict the “correct” outcome.
It’s still the early days — a total of around 70 jurors have judged matters worth about $300,000. Most of the 130 cases so far required the jurors to decide whether an Ethereum token was suitable for listing on Bitfinex exchange offshoot Ethfinex, which has since morphed into the decentralised exchange DeversiFi (which still uses Kleros for listings). The list of approved Ethereum tokens is also available in custom front ends for Uniswap and DutchX. The system was first tested with “Doges On ...
Kleros co-founder Federico Ast likes to perform a similar demonstration
leros co-founder Federico Ast likes to perform a similar demonstration with audiences, writing three numbers on the screen: 4,555, 6,876 and 1,000. He tells them they can win $20 if they correctly predict which number most of the other people will pick. “They all choose 1,000 because they think the others will choose that,” he said. “Jurors are incentivized to vote with the majority because they win tokens. It’s the foundation on which the Kleros incentive system is based.” Because individual...
Kleros co-founder Federico Ast likes to perform a similar demonstration
leros co-founder Federico Ast likes to perform a similar demonstration with audiences, writing three numbers on the screen: 4,555, 6,876 and 1,000. He tells them they can win $20 if they correctly predict which number most of the other people will pick. “They all choose 1,000 because they think the others will choose that,” he said. “Jurors are incentivized to vote with the majority because they win tokens. It’s the foundation on which the Kleros incentive system is based.” Because individual...
