Great analysis and I’m glad to see more people interested in improving the rewards function! I think that some form of the skewed and curved function would be the most ‘equitable’ of them. I have two critiques:
- It makes the rewards function quite complex. People are already very confused about how it works and so it would likely make debates on what optimal parameters should be very difficult to agree upon.
- Because it retains a0, it does nothing to solve the problem of coupling the rewards function with economic expansion. (see the edit remark in An Alternative to a0 and k - #4 by Serotonin )
While you’re at it, I would love to hear what you think about using the alternative that I suggested in the main article of the link above (and feel free to give any suggestions for improvements).