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Using a knowledge market to reward good ideas

angry tapir (1463043) writes | more than 2 years ago

Social Networks 0

angry tapir writes "A lot of large businesses have trouble harnessing the knowledge possessed by their workers. Social media platforms offer a more horizontal form of information sharing than traditional knowledge management techniques, but often organisations have trouble getting people to engage. At the same time, fixed rewards to encourage knowledge contributions can often lead to people creating garbage information instead of useful information. Barter is a social networking platform developed at MIT that uses market mechanisms, including entities that simulate the behaviour of a ‘central bank’ and a government, to find efficient reward mechanisms for contributing knowledge inside organisations. I recently had a chat to its creator about the platform and how his experiments with it produced some interesting results (for example, some of the problems of real world market economies he had to deal with, such as collusion and fraud)."
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