What are the most striking sources for really new institutional ideas? An example is @robinhanson's great list: http://mason.gmu.edu/~rhanson/altinst.html …
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More: the original Ansari X Prize was funded, in considerable part, through an insurance policy. They didn't need to raise 10 million, rather just enough to cover an insurance policy agains the Prize being won.
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More: the New Zealand Health Research Council runs a granting program where they evaluate applications against some basic criteria; if they pass, the successful applications are chosen by a random number generator.
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Many more ideas in the context of science (and joint work with
@patrickc) in this thread:https://twitter.com/michael_nielsen/status/1063423563468726272 …Show this thread -
Cosma Shalizi's list of resources on organizations and institutions: http://bactra.org/notebooks/institutions.html … Much of it is well-known analyses of existing institutions, but there are some tidbits on the design of new types of institutions.
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Another institutional idea I like is
@ATabarrok's dominant assurance contracts, for helping solve the public goods problem: https://en.wikipedia.org/wiki/Assurance_contract#Dominant_assurance_contracts … (& see the paper, linked at the bottom). What else can you suggest?Show this thread -
I love Elinor Ostrom's framework for thinking about institutions for governing common pool resources. See my review of her wonderful book here: https://www.goodreads.com/review/show/1159033827 … The book can be viewed in part as a way of thinking about new institutional ideas
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End of conversation
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This seems like the sort of thing you can only pull off once ...
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I don't see why. It even has a name: hole-in-one insurance.
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Do you have any idea who underwrote the policy?
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