31,796 research outputs found

    Reputation Agent: Prompting Fair Reviews in Gig Markets

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    Our study presents a new tool, Reputation Agent, to promote fairer reviews from requesters (employers or customers) on gig markets. Unfair reviews, created when requesters consider factors outside of a worker's control, are known to plague gig workers and can result in lost job opportunities and even termination from the marketplace. Our tool leverages machine learning to implement an intelligent interface that: (1) uses deep learning to automatically detect when an individual has included unfair factors into her review (factors outside the worker's control per the policies of the market); and (2) prompts the individual to reconsider her review if she has incorporated unfair factors. To study the effectiveness of Reputation Agent, we conducted a controlled experiment over different gig markets. Our experiment illustrates that across markets, Reputation Agent, in contrast with traditional approaches, motivates requesters to review gig workers' performance more fairly. We discuss how tools that bring more transparency to employers about the policies of a gig market can help build empathy thus resulting in reasoned discussions around potential injustices towards workers generated by these interfaces. Our vision is that with tools that promote truth and transparency we can bring fairer treatment to gig workers.Comment: 12 pages, 5 figures, The Web Conference 2020, ACM WWW 202

    Developer's Expertise and Dynamicsof Financial Innovation: Theory and Evidence

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    We study product innovation and imitation in the market of corporate underwriting with a dynamic model where client switching costs and the bankers’ expertise in deal structuring characterize the life cycle of a security. While the clientele loyalty allows positive rent extraction, the superior expertise can account for the documented market leadership of the innovator. As expertise on product structuring is acquired by imitators, the innovator’s market share advantage decreases. Also, the speed of entry by imitators increases for later generation products. Our predictions are consistent with well documented evidence on the market share leadership of innovators. We also present new evidence from equity-linked and derivative corporate products that supports the dynamic predictions of our learning model.Innovation and imitation, first-mover advantages, product differentiation, learning

    Group Versus Individual Liability: A Field Experiment in the Philippines

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    This working paper by CGD non-resident fellow Dean Karlan explores whether group liability in lending practices improves lender's overall profitability and the poor's access to financial markets. Group liability is a common microcredit lending mechanism that makes a group, rather than an individual recipient, responsible for repayment. It claims to improve repayment rates by providing incentives for peer's to screen, monitor and enforce each other's loans. But some argue that group liability actually discourages good clients from borrowing by creating tension among group members and causing dropouts, jeopardizing growth and sustainability. Also, bad clients can "free ride" off of good clients causing default rates to rise. In this paper, Karlan and his co-authors discuss the results of a field experiment at a bank in the Philippines, where they randomly reassigned half of the existing group liability centers as individual liability centers. They find that converting group liability to individual liability, while keeping aspects of group lending like weekly repayments and common meeting place, does not affect the repayment rate, and actually attracts new clients. This paper is one in a series of six CGD working papers by Dean Karlan on various aspects of microfinance (Working Paper Nos. 106 –111).group liability, lending practices, financial markets, repayment rates, free ride, Philippines

    Open Source Integrated Library Systems in Public Libraries

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    One of the most fundamental decisions a library makes is choosing an integrated library system, or ILS. A public library can remove unwanted outside influence and save money by switching their ILS to free and open source software, or FOSS. This article is an examination of the progress made by FOSS ILSs to become not only contenders against proprietary systems, but also an appropriate choice for financial, functional, and philosophical reasons. Included is a timeline of published evaluations, the milestone of 14% adoption, a summary of the current landscape, and example implementation cases. A functional analysis shows why a public library can now safely make the switch. A philosophical analysis shows why they should do so. Finally, a proposal is made to “Buy Back America’s Libraries, and return ownership of the keystone of our public information infrastructure to the people

    The Unsuccessful Inquisition in Tudor England

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    The Spanish Inquisition was tasked with finding heretics and either returning them to their faith or punishing them for their unfaithfulness. This institution lasted for hundreds of years and prosecuted thousands of cases across the Iberian Peninsula. When Mary Tudor took the throne, she instituted her own, smaller inquisition in her attempts to return her people to the Catholic faith. Yet while the Spanish Inquisition was a secretive organization, the trials and arrests in England were far more public and accessible. Much of the methodology and questioning processes were similar, yet Mary’s Inquisition met great resistance and died with her after only a few years. Martyrs were created from the “poor souls” trapped and killed by Bloody Mary and Bloody Bishop Bonner. Secrecy was the Spanish Inquisition’s main weapon and advantage, and Mary’s Inquisition could not and did not succeed without it
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