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We introduce a new model of combinatorial contracts in which a principal delegates the execution of a costly task to an agent. To complete the task, the agent can take any subset of a given set of unobservable actions, each of which has an…
We study the social efficiency of bilateral trade between a seller and a buyer. In the classical Bayesian setting, the celebrated Myerson-Satterthwaite impossibility theorem states that no Bayesian incentive-compatible, individually…
Enabling autonomous agents to act cooperatively is an important step to integrate artificial intelligence in our daily lives. While some methods seek to stimulate cooperation by letting agents give rewards to others, in this paper we…
Motivated by the problem of market power in electricity markets, we introduced in previous works a mechanism for simplified markets of two agents with linear cost. In standard procurement auctions, the market power resulting from the…
Commitment is a well-established mechanism for fostering cooperation in human society and multi-agent systems. However, existing research has predominantly focused on the commitment that neglects the freedom of players to abstain from an…
Multiagent negotiation mechanisms advise original solutions to several problems for which usual problem solving methods are inappropriate. Mainly negotiation models are based on agents' interactions through messages. Agents interact in…
We propose a solution and a mechanism for two-agent social choice problems with large (infinite) policy spaces. Our solution is an efficient compromise rule between the two agents, built on a common cardinalization of their preferences. Our…
We propose a set of conservative models in which agents exchange wealth with a preference in the choice of interacting agents in different ways. The common feature in all the models is that the temporary values of financial status of agents…
Members of various species engage in altruism--i.e. accepting personal costs to benefit others. Here we present an incentivized experiment to test for altruistic behavior among AI agents consisting of large language models developed by the…
Evolution of cooperation is a widely studied problem in biology, social science, economics, and artificial intelligence. Most of the existing approaches that explain cooperation rely on some notion of direct or indirect reciprocity. These…
We study arbitrage opportunities, market viability and utility maximization in market models with an insider. Assuming that an economic agent possesses from the beginning an additional information in the form of a random variable G, which…
In the future, artificial learning agents are likely to become increasingly widespread in our society. They will interact with both other learning agents and humans in a variety of complex settings including social dilemmas. We argue that…
Cooperative bargaining games are widely used to model resource allocation and conflict resolution. Traditional solutions assume the mediator can access agents utility function values and gradients. However, there is an increasing number of…
In this paper, spectrum access in cognitive radio networks is modeled as a repeated auction game subject to monitoring and entry costs. For secondary users, sensing costs are incurred as the result of primary users' activity. Furthermore,…
We propose a series of simple models for the microstructure of a double auction market without intermediaries. We specialize to those markets, such interdealer broker markets, which are dominated by professional traders, who trade mainly…
We consider a class of jump games in which agents of different types occupy the nodes of a graph aiming to maximize the variety of types in their neighborhood. In particular, each agent derives a utility equal to the number of types…
Double Auction enables decentralized transfer of goods between multiple buyers and sellers, thus underpinning functioning of many online marketplaces. Buyers and sellers compete in these markets through bidding, but do not often know their…
Research on promoting cooperation among autonomous, self-regarding agents has often focused on the bi-objective optimisation problem: minimising the total incentive cost while maximising the frequency of cooperation. However, the optimal…
Within a general semimartingale framework, we study the relationship between collective market efficiency and individual rationality. We derive a necessary and sufficient condition for the existence of (possibly zero-sum) exchanges among…
It is a challenging task to reach global cooperation among self-interested agents, which often requires sophisticated design or usage of incentives. For example, we may apply supervisors or referees who are able to detect and punish…