Human Computation and Economics.
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.