Lecture

Market Mechanisms: Crowdfunding, Prediction Markets, Quadratic Voting

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In course

CS-234: Technologies for democratic society

This course will offer students a broad but hands-on introduction to technologies of human self-organization. ...

Description

This lecture covers market-based mechanisms such as crowdfunding, where platforms like Kickstarter and GoFundMe democratize funding by involving ordinary people through small donations. It also explores prediction markets, which aggregate information to make predictions, and quadratic voting, a collective decision-making process where participants allocate 'coins' to express their preferences.

Instructors (2)

Bryan Alexander Ford

Links DEDIS lab home pagePersonal home page Curriculum vitae https://bford.info/cv.pdf Teaching & PhD PhD Students Shailesh Mishra Past EPFL PhD Students Eleftherios Kokoris Kogias, Kirill Nikitin, Cristina Basescu, Enis Ceyhun Alp, Simone Colombo, Pasindu Nivanthaka Tennage, Louis-Henri Manuel Jakob Merino Past EPFL PhD Students as codirector David Froelicher, Ludovic Barman, Georgia Fragkouli Courses Decentralized systems engineering CS-438 A decentralized system is one that works when n

Verónica del Carmen Estrada Galiñanes

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Related concepts (30)

Decision-making

In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.

Decision analysis

Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the maximum expected-utility axiom to a well-formed representation of the decision; and for translating the formal representation of a decision and its corresponding recommendation into insight for the decision maker, and other corporate and non-corporate stakeholders.

Group decision-making

Group decision-making (also known as collaborative decision-making or collective decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them. The decision is then no longer attributable to any single individual who is a member of the group. This is because all the individuals and social group processes such as social influence contribute to the outcome. The decisions made by groups are often different from those made by individuals.

Crowdfunding

Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by crowdfunding. Although similar concepts can also be executed through mail-order subscriptions, benefit events, and other methods, the term crowdfunding refers to internet-mediated registries.

Decision intelligence

Decision intelligence is an engineering discipline that augments data science with theory from social science, decision theory, and managerial science. Its application provides a framework for best practices in organizational decision-making and processes for applying machine learning at scale. The basic idea is that decisions are based on our understanding of how actions lead to outcomes. Decision intelligence is a discipline for analyzing this chain of cause and effect, and decision modeling is a visual language for representing these chains.

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