Related papers: A generalization of a classical model in contract …
We use generating functional analysis to study minority-game type market models with generalized strategy valuation updates that control the psychology of agents' actions. The agents' choice between trend following and contrarian trading,…
We review some statistical many-agent models of economic and social systems inspired by microscopic molecular models and discuss their stochastic interpretation. We apply these models to wealth exchange in economics and study how the…
The key for effective interaction in many multiagent applications is to reason explicitly about the behaviour of other agents, in the form of a hypothesised behaviour. While there exist several methods for the construction of a behavioural…
In a framework close to the one developed by Holmstr\"om and Milgrom [44], we study the optimal contracting scheme between a Principal and several Agents. Each hired Agent is in charge of one project, and can make efforts towards managing…
This paper examines the evolution, architecture, and practical applications of AI agents from their early, rule-based incarnations to modern sophisticated systems that integrate large language models with dedicated modules for perception,…
Consider the process of collective decision-making, in which a group of individuals interactively select a preferred outcome from among a universe of alternatives. In this context, "representation" is the activity of making an individual's…
We discuss conditionalisation for Accept-Desirability models in an abstract decision-making framework, where uncertain rewards live in a general linear space, and events are special projection operators on that linear space. This abstract…
An agent-based model is proposed for analyzing the dynamics that arise from interactions within social networks, analyzing the individual behavior of each profile. Said model considers a simplified construction of a social network while…
Contract theory studies how a principal can incentivize agents to exert costly, unobservable effort through performance-based payments. While classical economic models provide elegant characterizations of optimal solutions, modern…
Traditional models of rational action treat the agent as though it is cleanly separated from its environment, and can act on that environment from the outside. Such agents have a known functional relationship with their environment, can…
Probabilistic model checking is a technique for formal automated reasoning about software or hardware systems that operate in the context of uncertainty or stochasticity. It builds upon ideas and techniques from a diverse range of fields,…
This paper considers the hidden-action model of the principal-agent problem, in which a principal incentivizes an agent to work on a project using a contract. We investigate whether contracts with bounded payments are learnable and…
Rumour is a collective emergent phenomenon with a potential for provoking a crisis. Modelling approaches have been deployed since five decades ago; however, the focus was mostly on epidemic behaviour of the rumours which does not take into…
We introduce a basic model for contracts. Our model extends event structures with a new relation, which faithfully captures the circular dependencies among contract clauses. We establish whether an agreement exists which respects all the…
A negotiation team is a set of agents with common and possibly also conflicting preferences that forms one of the parties of a negotiation. A negotiation team is involved in two decision making processes simultaneously, a negotiation with…
This paper proposes a new general approach based on Bayesian networks to model the human behaviour. This approach represents human behaviour withprobabilistic cause-effect relations based not only on previous works, but also with…
In this article, an agent-based negotiation model for negotiation teams that negotiate a deal with an opponent is presented. Agent-based negotiation teams are groups of agents that join together as a single negotiation party because they…
We consider a moral hazard problem with multiple principals in a continuous-time model. The agent can only work exclusively for one principal at a given time, so faces an optimal switching problem. Using a randomized formulation, we manage…
The current economic crisis has provoked an active response from the interdisciplinary scientific community. As a result many papers suggesting what can be improved in understanding of the complex socio-economics systems were published.…
This is the first part of the comprehensive review, focusing on the historical development of Agent-Based Modeling (ABM) and its classic cases. It begins by discussing the development history and design principles of Agent-Based Modeling…