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Why I don't rob banks for a living

Why I don't rob banks for a living Why I Don ™t Rob Banks for a Living Can game theory ˜prove ™ that online robbery is irrational? By Nicole Immorlica W DOI: 10.1145/1925041.1925042 hy be nice when the mean kids get all the candy? In many economic situations, people face a choice between being œnice  (cooperating with others for mutual benefit) and being œmean  (seeking immediate personal gain at the expense of others). This article uses game theory to mathematically prove that being nice is not merely a personality trait, but also a rational decision that maximizes a person ™s wealth and happiness throughout his or her lifetime. This may help explain the continuing success of online anonymous markets such as eBay, which rely on people to cooperate in order to function properly. One of the most interesting developments is the creation of generalpurpose markets for crowdsourcing diverse tasks. For example, in Amazon ™s Mechanical Turk, tasks range from labeling images with keywords to judging the relevance of search results to transcribing podcasts. Such micro-task markets typically involve small tasks (on the order of minutes or seconds) that users self-select and complete for monetary gain. These markets represent the potential for accomplishing work for http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Crossroads Association for Computing Machinery

Why I don't rob banks for a living

Crossroads , Volume 17 (3) – Mar 1, 2011

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Publisher
Association for Computing Machinery
Copyright
Copyright © 2011 by ACM Inc.
ISSN
1528-4972
DOI
10.1145/1925041.1925042
Publisher site
See Article on Publisher Site

Abstract

Why I Don ™t Rob Banks for a Living Can game theory ˜prove ™ that online robbery is irrational? By Nicole Immorlica W DOI: 10.1145/1925041.1925042 hy be nice when the mean kids get all the candy? In many economic situations, people face a choice between being œnice  (cooperating with others for mutual benefit) and being œmean  (seeking immediate personal gain at the expense of others). This article uses game theory to mathematically prove that being nice is not merely a personality trait, but also a rational decision that maximizes a person ™s wealth and happiness throughout his or her lifetime. This may help explain the continuing success of online anonymous markets such as eBay, which rely on people to cooperate in order to function properly. One of the most interesting developments is the creation of generalpurpose markets for crowdsourcing diverse tasks. For example, in Amazon ™s Mechanical Turk, tasks range from labeling images with keywords to judging the relevance of search results to transcribing podcasts. Such micro-task markets typically involve small tasks (on the order of minutes or seconds) that users self-select and complete for monetary gain. These markets represent the potential for accomplishing work for

Journal

CrossroadsAssociation for Computing Machinery

Published: Mar 1, 2011

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