Objective
Cooperation is essential for the functioning of the economy and society. Thus, with inappropriate mechanisms to harness self-interest by aligning it with the common good, the outcome of social and economic interaction can be bleak and even catastrophic.
Recent advances in computer technology lead to radical innovation in market design and trading strategies. This creates both, new challenges and exciting opportunities for “engineering cooperation”. This project uses the economic engineering approach (as advocated by Alvin Roth) to address some of the most pressing cooperation problems of modern markets and societies.
I propose three work packages, each using innovative experimental methods and (behavioral) game theory in order to address a specific challenge:
The first one studies the design of electronic reputation mechanisms that promote cooperation in the digital world. Previous research has shown that mechanisms to promote trust on the Internet are flawed. Yet, there is little empirical and normative guidance on how to repair these systems, and engineer better ones.
The second studies the design of mechanisms that avoid arms races for speed in real-time financial and electricity market trading. Traders use algorithmic sniping strategies, even when they are collectively wasteful and seriously threatening market liquidity and stability. Yet, little is known about the robust properties of alternative market designs to eliminate sniping.
The third one studies how to design modern markets that align with ethical considerations. People sometimes have a distaste for certain kinds of modern transactions, such as reciprocal kidney exchange and buying pollution rights. Yet, little is known about the underlying nature and robustness of this distaste.
My project will generate important knowledge to improve the functioning of modern markets, and at the same time open new horizons in the sciences of cooperation and of “behavioral economic engineering”.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet
- natural sciences earth and related environmental sciences environmental sciences pollution
- natural sciences mathematics applied mathematics game theory
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.1. - EXCELLENT SCIENCE - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
ERC-ADG - Advanced Grant
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2016-ADG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
50931 KOLN
Germany
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.