Related papers: Rational Expectations, psychology and inductive le…
We introduce three concepts that describe an agent's incentives: response incentives indicate which variables in the environment, such as sensitive demographic information, affect the decision under the optimal policy. Instrumental control…
To learn directed behaviors in complex environments, intelligent agents need to optimize objective functions. Various objectives are known for designing artificial agents, including task rewards and intrinsic motivation. However, it is…
Current labor markets are strongly affected by the economic forces of adverse selection, moral hazard, and reputation, each of which arises due to $\textit{incomplete information}$. These economic forces will still be influential after AI…
In nature and human societies, the effects of homogeneous and heterogeneous characteristics on the evolution of collective behaviors are quite different from each other. It is of great importance to understand the underlying mechanisms of…
This essay discusses the advantages of a probabilistic agent-based approach to questions in theoretical economics, from the nature of economic agents, to the nature of the equilibria supported by their interactions. One idea we propose is…
Following the paradigm set by attraction-repulsion-alignment schemes, a myriad of individual based models have been proposed to calculate the evolution of abstract agents. While the emergent features of many agent systems have been…
We define and study a rather complex market model, inspired from the Santa Fe artificial market and the Minority Game. Agents have different strategies among which they can choose, according to their relative profitability, with the…
Standard economic theory assumes that agents in markets behave rationally. However, the observation of extremely large fluctuations in the price of financial assets that are not correlated to changes in their fundamental value, as well as…
Our hypothesis is that by equipping certain agents in a multi-agent system controlling an intelligent building with automated decision support, two important factors will be increased. The first is energy saving in the building. The second…
Although there are many approaches to implement intrinsically motivated artificial agents, the combined usage of multiple intrinsic drives remains still a relatively unexplored research area. Specifically, we hypothesize that a mechanism…
The aim of my Ph.D. thesis concerns Reasoning in Highly Reactive Environments. As reasoning in highly reactive environments, we identify the setting in which a knowledge-based agent, with given goals, is deployed in an environment subject…
We introduce a class of learning problems where the agent is presented with a series of tasks. Intuitively, if there is relation among those tasks, then the information gained during execution of one task has value for the execution of…
We examine hypothesis testing within a principal-agent framework, where a strategic agent, holding private beliefs about the effectiveness of a product, submits data to a principal who decides on approval. The principal employs a hypothesis…
We consider long-lived agents who interact repeatedly in a social network. In each period, each agent learns about an unknown state by observing a private signal and her neighbors' actions from the previous period before choosing her own…
When developing reinforcement learning agents, the standard approach is to train an agent to converge to a fixed policy that is as close to optimal as possible for a single fixed reward function. If different agent behaviour is required in…
An agent acquires information dynamically until her belief about a binary state reaches an upper or lower threshold. She can choose any signal process subject to a constraint on the rate of entropy reduction. Strategies are ordered by "time…
A dynamical model is introduced for the formation of a bullish or bearish trends driving an asset price in a given market. Initially, each agent decides to buy or sell according to its personal opinion, which results from the combination of…
In economic theory, an agent chooses from available alternatives -- modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by…
We study consumption behaviour in systems with heterogeneous interacting agents. Two different models are introduced, respectively with long and short range interactions among agents. At any time step an agent decides whether or not to…
We study the informational efficiency of a market with a single traded asset. The price initially differs from the fundamental value, about which the agents have noisy private information (which is, on average, correct). A fraction of…