An experiment with innovation on the blockchain.

I should write this essay as an inspiring speech. I should confidently tell you about the new world we’re building with my organization, Planck, and how it will change everything. I should show charts, letting you behold the enormous addressable markets that we will conquer.

Unfortunately, I can’t do that here. I’d be standing next to a chart, something like:

From economic historian Gregory Clark’s ‘A Farewell to Alms’.)

“This is a picture of the last time humanity solved a core innovation problem” I’d say (truthfully.)

But as you can see, that’s an addressable market so big that even the most exuberant…


Planck ran the first RCT of Seth Roberts’ appetite theory. You can read more about this here.

First, we will describe the design we actually ran. Afterwards we will describe an idealized design for which we are funding a replication. The design we actually ran: we recruited volunteers via reddit, twitter, and a major stats blog . Then the participants used the following protocol, published openly for review and comment prior to the study being run:

The measure of hunger we are providing for people is a simple scale taken from Blundell et al.’s (2010) review of validated appetite measures…


Note: This article proposes that smart contracts can enable an effective commitment strategy, Click here for my previous article explaining the game theory of Fomo-3D. Fomo-3D itself ended with a combination of sophisticated “blockstuffing” and commitment strategies.

In 1519, Spanish conquistador Hernan Cortes landed his ships in Mexico looking for gold. As he attempted to push inland and battle the Aztec Empire, he feared that his men would break rank and retreat, boarding the ships back to Cuba. He knew he’d win if his soldiers fought. But if they retreated… he might be dead.

Cortes was a brutal man and…


FOMO3D is a blockchain game that currently has $12 million in ETH at stake, with all of it locked up in a very bizarre-looking set of rules. But upon closer inspection, the rules aren’t so strange. In fact, it turns out to resemble a scaled-up version of a classic game in behavioral game theory. They teach it at Harvard Business School.

This game, underlying FOMO3D (F3D), is called “The War of Attrition” and it can produce some insanely irrational outcomes. Fortunately, variants of the War of Attrition have been extensively studied by economists and evolutionary biologists. …

Matt Stephenson

Impressive-looking signals: Columbia PhD/Fulbright/Cancer Survivor. Less impressive: sold Bitcoin @ $30. @stephensonhmatt on Twitter.

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