Re: AltInst: Electronic Task Markets

Robin Hanson
> >> Using Electronic Markets to Achieve Efficient Task Distribution
> > Yeah, there is a different propopsal at of this at
> >http://www.bounty.org.
> I found this summary at: http://www.bounty.org/proposals/proposal1.html

        The second draft is a little better <http://www.bounty.org/proposals/proposal2.html>:

Abstract:

This proposal is an attempt to outline a system for awarding cash payments for
the creation of new technologies without the overhead or ownership associated
with conventional systems such as contract or work-for-hire, or
employee-employer systems.

This system works by someone developing a specification for a piece of
software, code, library, schematics, or other "soft" technology (Hard
technology may be added later as protocalls are worked out. Hardware is a lot
tougher to FTP or Email.), and placing a initial bid for completion of the
work. Other people can "bid up" or "bet" on the projects completion, A second
entity attempts to complete the project, or "takes the bet".

Upon satisfactory completion of the project, the entity completing the project
receives their portion of the bid.

In effect the party "taking the bid" is entering into a contract to deliver
the product as stated in the "bid".

Cases where there is a dispute between the "bidder" and the entity taking "the
bid" go into adjudication.

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Received on Fri Jun 26 01:24:44 1998