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Jakob's avatar

Prices are local and situationally dependent. So is quality. Nonetheless, as you write, beyond local prices, it has become useful to create global prices to facilitate global trade. To facilitate global civilization, we need global quality. Constructing a decentralized, emergent mechanism to describe adaptive global quality definitions is an alluring idea. Very different to the a priori, logical reasoning I am used to.

The question is, what are we truly revealing here? Can we design a mechanism that reveals true judgments of quality (preference revelation for prices in economics) or will we get strategic misrepresentation for signaling value? What are the core features needed in such a system to create accurate feedback loops between actually predicting or causing positive value changes for yourself and others and becoming a more trusted node in the network / these judgments of quality actually being promoted? People love sugar. Giving people sugar is not going to earn you a positive reputation, because we know it is bad for us, but we aren't always strong enough to resist it. The person providing sure will be rewarded for their action despite it leading to lower quality states. How can we prevent this dynamic which occurs in the economic realm to replicate itself in this market of quality?

I really enjoyed reading this and my thoughts have been utterly provoked ;)

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