orthonormal comments on Histocracy: Open, Effective Group Decision-Making With Weighted Voting - Less Wrong
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Comments (62)
I think it would have been better if you didn't have the first post, which sounded like you thought you'd found the Best System Ever and not just an improvement on the status quo (albeit one which might be simpler to implement than all-out futarchy). I foresee it being difficult to convince organizations to do this, though; the boards won't want to put their high status on the line like that.
With a restricted domain and certain assumptions, I do think I've found the Best System Ever. The first post was because I'm not confident.
Well, then I think you haven't put enough thought into how the system might be gamed (as it would be in practice). With your initial naive version, there would be an incentive to weigh in only on decisions that are slam-dunks and on decisions that you personally have a stake in, using the first to "buy" credibility that you "spend" on the other. Because of this, difficult decisions would be dominated by people with ulterior motives.
Now, of course there can be fixes for this, but it serves to illustrate that your system probably won't be perfect fresh out of the box. Again, I think it would be an improvement on a system that doesn't even track people's records, but I don't share your total zeal.
Also, people's decision making abilities change over time. What I did right or wrong 5 years ago is not as important as what I did right or wrong one week ago. So, the influence of past decision scores should diminish as time passes. Exponential decay of importance, maybe? Another way you could do it is use a rating number for each player analogue to those used e.g. in chess (ELO).