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blogospheroid comments on Is Google Paperclipping the Web? The Perils of Optimization by Proxy in Social Systems - Less Wrong
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I think an iterated tournament might work better.
Announce 2 iterated prize sequences. The big Red Prizes for the best optimization algorithm and the small Blue prizes for the best spam which can spoof the same. Don't award a blue until the first red is awarded and then don't award a red until the last blue one is awarded and so on. Keep escalating the price amounts until satisfactory performance is attained.