... How should a platform or a society address the problem of fake news? The spread of misinformation is ancient, complex, yet ubiquitous in media concerning elections, vaccinations, and global climate policy. After examining key attributes of “fake news” and of current solutions, this article presents design tradeoffs for curbing fake news. The challenges are not restricted to truth or to scale alone. Surprisingly, there exist boundary cases when a just society is better served by a mechanism that allows lies to pass, even as there are alternate boundary cases when a just society should put friction on truth. Harm reflects an interplay of lies, decision error, scale, and externalities. Using mechanism design, this article then proposes three tiers of solutions: (1) those that are legal and business model compatible, so firms should adopt them (2) those that are legal but not business model compatible, so firms need compulsion to adopt them, and (3) those that require changes to bad law. ...
See the full story here: https://digitaleconomy.stanford.edu/event/marshall-van-alstyne-free-speech-platforms-the-fake-news-problem/