Quadratic Funding with Incomplete Information
Luis V. M. Freitas (Global Priorities Institute,
University of Oxford) and Wilfredo L. Maldonado
(University of Sao Paulo)
GPI Working Paper No. 10 - 2022, published in Social Choice and Welfare
Quadratic funding is a public good provision mechanism that satisfies desirable theoretical properties, such as efficiency under complete information, and has been gaining popularity in practical applications. We evaluate this mechanism in a setting of incomplete information regarding individual preferences, and show that this result only holds under knife-edge conditions. We also estimate the inefficiency of the mechanism in a variety of settings and show, in particular, that inefficiency increases in population size and in the variance of expected contribution to the public good. We show how these findings can be used to estimate the mechanism’s inefficiency in a wide range of situations under incomplete information.
Other working papers
Longtermist political philosophy: An agenda for future research – Jacob Barrett (Global Priorities Institute, University of Oxford) and Andreas T. Schmidt (University of Groningen)
We set out longtermist political philosophy as a research field. First, we argue that the standard case for longtermism is more robust when applied to institutions than to individual action. This motivates “institutional longtermism”: when building or shaping institutions, positively affecting the value of the long-term future is a key moral priority. Second, we briefly distinguish approaches to pursuing longtermist institutional reform along two dimensions: such approaches may be more targeted or more broad, and more urgent or more patient.
Estimating long-term treatment effects without long-term outcome data – David Rhys Bernard (Paris School of Economics)
Estimating long-term impacts of actions is important in many areas but the key difficulty is that long-term outcomes are only observed with a long delay. One alternative approach is to measure the effect on an intermediate outcome or a statistical surrogate and then use this to estimate the long-term effect. …
How to resist the Fading Qualia Argument – Andreas Mogensen (Global Priorities Institute, University of Oxford)
The Fading Qualia Argument is perhaps the strongest argument supporting the view that in order for a system to be conscious, it does not need to be made of anything in particular, so long as its internal parts have the right causal relations to each other and to the system’s inputs and outputs. I show how the argument can be resisted given two key assumptions: that consciousness is associated with vagueness at its boundaries and that conscious neural activity has a particular kind of holistic structure. …