Human Computation and Economics

Bry, François (2012): Human Computation and Economics.

Abstract

This article is devoted to economical aspects of Human Computation (HC) and to perspectives of HC in economics. As of economical aspects of HC, it is first observed that much of what makes HC systems effective is economical in nature suggesting that complexity being reconsidered as a “HC complexity” and the conception of efficient HC systems as a “HC economics”. This article also points to the relevance of HC in the development of standard software and to the importance of competition in HC systems. As of HC in economics, it is first argued that markets can be seen as HC systems avant la lettre. Looking more closely at financial markets, the article then points to a speed differential between transactions and credit risk awareness that compromises the efficiency of financial markets. Finally, a HCbased credit risk rating is proposed that, overcoming the afore mentioned speed differential, holds promise for better functioning financial markets.

• Item Type: Paper
• Faculties: Mathematics, Computer Science and Statistics > Computer Science
• Subjects: 000 Computer science, information and general works > 004 Data processing computer science
• Language: English