There’s an invisible system behind every £100,000 bar tab and its currency is pretty women
Systems: How the Ultra-Wealthy Think About Money - Anil Dash
A blog about making culture. Since 1999.
Money makes the world go round Liza Minnelli
The Effect of Payment Transparency on Consumption: Quasi-Experiments from the Field
Recent research suggests that the method of making a payment can influence the willingness to pay and consumption behavior. In this manuscript, we argue that payment mechanisms differ from each other along the dimensions of transparency, and that the degree of transparency correlates positively with the pain of paying using the mechanism, and negatively with consumption and spending. We replicate previous experimental results using quasi-experiments from the field, and find that the lower the payment transparency, the greater is the consumption. However, this effect is weak for products whose consumption rates are inflexible.
Managing Mental Accounts: Payment Cards and Consumption Expenditures
Abstract Does mental accounting matter for total consumption expenditures? We exploit a unique setting in which individuals exogenously receive a new payment card, without requesting one. Using random variation in the time of receipt, we show that individuals temporarily increase total consumption expenditure by making purchases with the new card without reducing spending on the others. We do not observe a corresponding increase in indebtedness. Total consumption expenditure rises even for the least liquidity-constrained individuals. The evidence is consistent with consumers treating methods of payment as nonfungible budget categories, as suggested by models of mental accounting and narrow bracketing.
MintStars
London, UK, 10th May 2023 - To tackle the challenges in the creator economy, MintStars has developed the world's first sex-positive NFT subscription platform. While the creator economy is booming, creators on platforms like OnlyFans often struggle with high fees, burnout, piracy, and censorship. Sex workers and LGBTQ+ creators face widespread discrimination; almost 2/3 of adult creators have lost a bank account or payment app. MintStars provides a more inclusive alternative with lower fees, using crypto-based payments to protect creators from financial exclusion and enabling creators to earn money from fans reselling their content.
Paul's Leaflets
There's a surprisingly nuanced discussion in development about the political economy of clients and servers in the Atmosphere
On the Mental Accounting of Restricted-Use Funds: How Gift Cards Change What People Purchase
Abstract. This article emphasizes the role of categorization in mental accounting and proposes that once a mental account is established, purchases that ar
Tracers in the dark: the global hunt for the crime lords of cryptocurrency
"A propulsive story of a new breed of investigators who have cracked the Bitcoin blockchain, taking once-anonymous realms of money, drugs, and violence and holding them up to the light Black markets have always thrived in the shadows of society. Increasingly, these enterprises-drug dealing, money laundering, human trafficking, terrorist funding-have found their shadows online. Digital crime lords inhabiting lawless corners of the internet have operated more freely than their analog counterparts could have ever dreamed of. At the heart of their massive conspiracies: cryptocurrency. By transacting not in dollars or pounds but in Bitcoin-a currency with anonymous ledgers, overseen by no government, beholden to no bankers-black marketeers robbed law enforcement for years of their chief method of cracking down on criminal markets, namely, following the money. But what if the centerpiece of this dark economy held a secret, fatal flaw? What if their currency wasn't so cryptic after all? An investigator using the right mixture of technical wizardry, financial forensics, and old-fashioned persistence could crack open an entire world of crime. Men with No Names is a story of crime and consequences unlike any other. With unprecedented access to the major players in federal law enforcement and private industry, veteran cybersecurity reporter Andy Greenberg tells an astonishing saga of criminal empires built and destroyed. He introduces an IRS agent with a defiant streak; a Bitcoin-tracing Danish entrepreneur; and a colorful ensemble of hardboiled agents and prosecutors as they delve deep into the crypto-underworld. The result is a thrilling, globe-spanning story of dirty cops, drug bazaars, sex-abuse rings, and the biggest takedown of an online narcotics market in the history of the internet. This is a cat-and-mouse story and a tale of a technological one-upmanship that's utterly of our time. Filled with canny maneuvering and shocking twists, it answers a provocative question: How would some of the world's most brazen criminals behave if they were sure they could never get caught?"--
Gender Performativity | The Paper Pilot
The Paper Pilot's digital garden of thoughts on philosophy, politics, and sociology
Positive Sum Worlds: Remaking Public Goods
An era of global protocols requires a visionary redefinition of public goods, in service of others.
Managing Mental Accounts: Payment Cards and Consumption Expenditures
Does mental accounting matter for total consumption expenditures? We exploit a unique setting in which individuals exogenously received a new credit card, without requesting one. Using random variation in the time of receipt we show that individuals temporarily increase total consumption expenditure by making purchases with the new card without reducing spending on the others. We do not observe a corresponding increase in indebtedness. Total consumption expenditure rises even for the least liquidity-constrained individuals. The evidence is consistent with consumers treating methods of payment as nonfungible budget categories, as suggested by models of mental accounting and narrow bracketing.
Tightwads and spendthrifts: An interdisciplinary review
Consumers rely on a “pain of paying” to help deter their spending. While this is beneficial for some consumers, others experience levels of pain that create problems. “Tightwads” experience too much pain when considering spending and therefore spend less than they would ideally like to spend. By contrast, “spendthrifts” experience too little pain and therefore spend more than they would ideally like to spend. Neither are happy with how they handle money. In the decade since the tightwad‐spendthrift construct was introduced, much has been learned about what it is and is not (e.g., frugality, greed), what contextual factors are likely to reduce its importance, how it plays a role within romantic relationships, and when it might first emerge in childhood. This paper reviews the wide range of interdisciplinary research relevant to the tightwad‐spendthrift construct and proposes several directions for new research.
Protocols: Power Hides in Boring Places
The fights over AI scraping and encrypted browsing are being settled in obscure standards bodies, and advocates need to be in the room, Mallory Knodel argues.
Invisible Women: Exposing Data Bias in a World Designed for Men
Invisible Women: Exposing Data Bias in a World Designed for Men is a 2019 book by British feminist author Caroline Criado Perez. The book describes the adverse effects on women caused by gender bias in big data collection.
Unfixed Resources: Perceived Costs, Consumption, and the Accessible Account Effect
Abstract. Consumption depletes one's available resources, but consumers may be unaware of the total resources available for consumption and, therefore, be
