Milestone 3 AltaMira PowerIdea 2: Task Auction

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Goal Help ensure that higher-skilled and more reputable Workers are compensated appropriately, while also creating market forces which drive down the cost-per-task. Also, give Requesters the ability to easily manage how much they spend.

Idea

1. Requesters set either a budget for what they want to spend in total for a project and/or a max cost per task (CPT).

2. Workers set the fee they would like to charge per task.

3. Each worker is also assigned a bid modifier based on their skill in the problem-class and their reputation (or lack there of). For example, if we know from prior data that workers of this type have a 20% error rate, we can add a multiplier of, say, 1.2 to their bid.

4. Each task is then auctioned off, taking into account the workers' skills, their desired fee and the Requesters budget/max CPT. The lowest bid which is still under the max CPT wins the task.


Example:

- Requester Rhonda wants to have some photos of galaxies classified. She creates a project with 1,000 tasks and sets the max cost-per-task (CPT) to $0.20.

- Worker William is brand new and has no reputation. He would like $0.10 per classification task. However, knowing that - on average - brand new workers have an extremely high error rate, we give him a bid modifier of 1.4x

- Worker Wendy has been doing image classification tasks for a while, has a very low error rate, and has received great reviews. She is considered reputable and skilled in this problem-class. She would like $0.15 per classification task. However, given her skill and reputation, for this type of task her bid modified is 0.9x.

- The auction is held. William bids $0.10 x 1.4 = $0.14 and Wendy bids $0.15 x 0.9 = $0.135. Wendy wins the task. As her requested fee is still below the max CPT set by the requester, Wendy get paid her asking rate of $0.15. She does a great job! :)