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On May 29, Prof. Motty Perry from the University of Warwick provided an exciting seminar about the paper “Implementing the ‘Wisdom of the Crowd’”, which he co-authored with Ilan Kremer and Yishay Mansur.
The authors studied a new mechanism design problem that became highly relevant after the development of Internet advisor sites. The presenter began the seminar by providing examples of various Internet sites but mainly concentrated on TripAdvisor and Waze-mobile. The latter website develops GPS navigation based on information provided by its users. It is a social mobile application that offers free turn-by-turn navigation based on real traffic conditions as reported by its users. In order to be able to provide good recommendations, the app needs information on every possible route.
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On May 13, ISET hosted Jörg Spiller from the European University Viadrina, who presented his paper “Historic Debt in a Dynamic Public Good Experiment”.
At the beginning of his presentation, Mr. Spiller spoke about emissions as a global environmental problem. He claimed that the only way for nations to deal with this problem is through negotiations. However, despite the fact that negotiations would cause public gain, there is very little incentive for nations to cooperate with each other since the outcomes of negotiations are associated with private losses. As each actor has an incentive to avoid such private losses, no cooperation thus becomes the optimum solution for both industrialized and emerging nations in this case.
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