Roadmap to Algocracy - A Feasibility Study

12 Pages Posted: 12 Aug 2020

Date Written: July 13, 2020

Abstract

Algocracy is the rule by algorithms. This paper summarises technologies useful to create algocratic social machines and presents idealistic examples of their application. In particular, it describes smart contracts and their implementations, challenges of behaviour mining and prediction, as well as game-theoretic and AI approaches to mechanism design. The presented idealistic examples of new algocratic solutions are picked from the reality of a modern state. The examples are science funding, trade by organisations, regulation of rental agreements, ranking of significance and sortition. Artificial General Intelligence is not in the scope of this feasibility study.

Keywords: Algocracy, Behavioral Economics, Data Mining, Game Theory, Mechanism Design, General Game Playing, Experimental Economics, Domain-Specific Languages, Smart Contract

JEL Classification: P00, C5, D40

Suggested Citation

Tagiew, Rustam, Roadmap to Algocracy - A Feasibility Study (July 13, 2020). Available at SSRN: https://ssrn.com/abstract=3650010 or http://dx.doi.org/10.2139/ssrn.3650010

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