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PLENARY TALK - Robin Hanson (George Mason University & Oxford) - Pay Experts for Results, Not Prestige

Date: 
Wednesday 10th June 2020 - 17:30 to 18:30
Venue: 
INI Seminar Room 1
Abstract: 
Abstract: Doctors, lawyers, priests, teachers, politicians,
fundmanagers, researchers, and more - how can we get experts to serve
us?We have fivemain ways: pay for results, require procedures, or
pick based on track records,prestige, or loyalty. Picking onprestige
is most common. But paying forresults seems most robust, though for
cash-paid experts it requires that customersprevent expert coordination,
or wait long to pay. For experts who forecast,paying for results can
often be achieved viaprediction markets, which havegreat untapped
potential.



Resources:

http://hanson.gmu.edu/expert.pdf

http://hanson.gmu.edu/futarchy.html

http://www.overcomingbias.com/2019/07/radical-pay-for-results.html

http://www.overcomingbias.com/2020/05/five-ways-to-rate.html

http://www.overcomingbias.com/2020/06/science-2-0.html

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Presentation Material: 
University of Cambridge Research Councils UK
    Clay Mathematics Institute London Mathematical Society NM Rothschild and Sons