PICSY Budget Constraints

Mechanisms that increase reputation when evaluated by those who are evaluated by those who are evaluated.

• This “evaluation” is set to resource that cannot be duplicated.
• Purchase” is an act that enhances the “reputation” of the other party.
• But it’s a resource that can’t be duplicated, so “purchasing” the resource would be devalued by the buyer.
  • This will cause those who have been evaluated in the past by buyers to mysteriously suffer a devaluation.
• This is not desirable, so we would say that there should be a limit on the amount that can be purchased.
  • That’s the budget constraint.
  • Accumulate a small reduction of evaluations from all members in advance.
    • We call this “gradual reduction” “natural recovery.”
• Three ways of doing this are being considered.
  • Those who use the link $E_{bb}$ to themselves
  • How to introduce a central bank and use [$ E_{b0}
  • How to dismantle the link to yourself $E_{bb}$ as a virtual central bank
    • Remove the diagonal from E and distribute it to the other members to make a new E’.

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