Milestone 3 TuringMachine PowerIdea 2: Fair Price Mechanism

From crowdresearch
Revision as of 22:57, 18 March 2015 by Avrimmit (Talk | contribs) (Auction for fair Pricing)

Jump to: navigation, search

Design Goal

Fair Pricing Mechanism

Auction for fair Pricing

  • Most of the times requestors controls the prices. However, reserve price will help establish minimum payment rule.
  • Furthermore, workers can participate in the second price auction, as shown in the digram below and provide true valuation for the task.
  • Automated algorithm can collect the price inputs i.e. bids from different workers and highest price the requester wants to pay for the task.
  • Then the algorithm can find trade off between bid price, requestors highest quote, and worker's past performance.
  • Worker's can challenge requestor's quote if they feel price is lower than quoted value