The Economics of the Asteroid Deflection Problem (Dominant Assurance Contracts)
Update 2023-09-04: Partial Update: I'm fully funded! Update 2023-09-21: Full Update. Funding is over. Update 2023-11-28: Final Update. Platform Launched! Imagine a world with no ads or paywalls. A world where open-source software gets the same level of funding as proprietary software. A world where people can freely reuse ideas and music without paying royalties. A world where people get paid for writing book reviews. A world where Game-of-Thrones-quality shows are freely available on YouTube. A world where AI safety research gets the same-level of funding as AI capabilities research. Is this a fantasy world? No, this is the world where people use Dominant Assurance Contracts If you are already convinced you can make this idea a reality by donating to create a Platform for Dominant Assurance Contracts. If you are not convinced read on. The Free-rider problem A few months ago I stumbled across this video. (I highly recommend you watch the video, but if you don't have time, I've summarized the video below). Summary of A Deeper Look at Public Goods A good is rival if one person's use of a good diminishes another person's ability to benefit from it. Jeans are rival. If I'm wearing a pair of jeans, you can't wear it at the same time. Asteroid deflection is non-rival. If I deflect an asteroid to protect myself, you are saved with no additional cost. A good is excludable if people who don't pay can be easily prevented from using a good. An example of a good that is excludable is a pair of jeans. You can exclude people by locking the jeans in your closet. An example of a good that is non-excludable is asteroid deflection. You cannot prevent the people who did not pay for the asteroid deflection program from benefiting from the asteroid being deflected. A good which is both rival and excludable is called a private good. A good which is non-rival and non-excludable is called a public good. (Additionally, goods which are excludable and non-rival are called club go