Abstract
Competitive crowdsourcing is a popular strategic model for solving tasks in an efficient economical way. Competitive crowdsourcing platforms generally choose the winners for a single indivisible task following the conventional Dutch auction to minimize the cost. In this paper, we show that when the tasks are decomposable such mechanisms become biased for competitive crowdsourcing markets. As a solution to this, we suggest a variant of the Dutch auction (referred to as time-invariant Dutch auction) for solving decomposable tasks. Overall, some new insights about the mechanism design for competitive crowdsourcing markets are obtained.
Highlights
Internet has become a more successful medium to solve any kind of complex tasks as compared to the conventional offline modes
The crowdsourcing models can be of two types – competitive and collaborative, which distinguishes the pattern of interaction between the crowd workers towards solving a problem
The success of competitive crowdsourcing models mainly depends on the auction strategy it employs
Summary
Internet has become a more successful medium to solve any kind of complex tasks as compared to the conventional offline modes. Online strategies are more profitable and powerful than the offline because they take limited time to find out a better solution involving a huge workforce. This has opened up the scope for new business models with a major economic impact. If the tasks can be further sub-divided, and the different parts are solved by multiple workers, the environment becomes more competitive and the chance of getting a better bid value increases. The worker who has already posted the minimum bidding cost should be forced through proper mechanism design for a better performance of the system (Narahari, 2014) We study these possibilities and suggest a suitable model for managing decomposable tasks in competitive crowdsourcing markets
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